Answer: $46,380
Explanation:
Given that,
Item X was appraised = $38,000
Item Y was appraised = $60,000
Item Z was appraised = $65,000
Purchase price = $126,000
Sum of the value of items appraised = $38,000 + $60,000 + $65,000
= $163,000
The amount at which item Y should be recorded:
= [tex]\frac{Value\ of\ item\ Y\ appraised}{Sum\ of\ all\ value} \times Purchased\ price[/tex]
= [tex]\frac{60,000}{163,000} \times 126,000[/tex]
= $46,380
