Cranberry Company purchased two pieces of equipment from a ...

[strangeaffliction]

Cranberry Company purchased two pieces of equipment from a Canadian vendor for 400,000. If the assets had been purchased separately, the company would have paid 90,000 for the first piece of equipment and 360,000 for the second piece of equipment.
 
  What amount should be recorded for the FIRST piece of equipment?
  A) 80,000
  B) 90,000
  C) 360,000
  D) 320,000

Question 2

The lower of cost or market is a method of inventory valuation.
 a. True
  b. False
 
   Indicate whether the statement is true or false

[kingdude89]

Answer to Question 1

A

Answer to Question 2

True

[strangeaffliction]

Gracias!

[peter]

Thanks for the timely response, appreciate it