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    Jun 12, 2011, 05:52 PM
    Cost Concept
    Cost Concept - On June 10, Easy Repair service extended an offer of $95,000 for land that had beeb priced for sale at $118,500. Easy Repair Service accepted the seller
    s counteroffer of $105,000. On August 27, the land was assessed at a value of $80,000 for property tax purposes. On April 1, Easy Repair Service was offered $125,000 for the land by a national retail chain. At what value should the land be recorded in Easy Repair Service's records?

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