Emily purchased a building to store inventory for her, Cost Accounting

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Emily purchased a building to store inventory for her

Emily purchased a building to store inventory for her business. The purchase price was $760,000. Beyond this, Emily incurred the following necessary expenses to get the building ready for use: $10,000 to repair the roof (does not extend the roof life), $5,000 to make the interior suitable for her finished goods, and $300 in legal fees. What is Emily's cost basis in the new building?

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Cost Accounting: Emily purchased a building to store inventory for her

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