Exercise 172 Klein Company manufactures boats. During September, 2016, the company purchased 100 cellular phones at a cost of $110 each. Klein withdrew 70 phones from the warehouse during the month. Twenty of these phones were installed in salespersons' cars and the remaining 50 phones were put in boats manufactured during the month.
Of the boats put into production during September, 2016, 80% were completed and transferred to the company's storage lot. Fifty percent of the boats completed during the month were sold by September 30.
Determine the cost of cellular phones that would appear in each of the following accounts at September 30, 2016: