Total Cost of Land and Warehouse for Falcon Waste Management

When Falcon Waste Management purchased the land and warehouse for $600,000, they also incurred additional expenditures related to the acquisition. These additional costs included a broker's commission of $30,000, title insurance of $3,000, and miscellaneous closing costs of $6,000.

In order to calculate the total cost of the land and warehouse, we need to add the purchase price and the related acquisition costs together. Therefore, the breakdown would be as follows:

Purchase price of land and warehouse: $600,000

Broker's commission: $30,000

Title insurance: $3,000

Miscellaneous closing costs: $6,000

Adding these amounts together gives us a total cost of $639,000 for the land and warehouse purchased by Falcon Waste Management. This total cost includes not only the purchase price of the property but also the additional expenses incurred during the acquisition process.

It is important to note that the fair value estimates provided for the land and warehouse in the question, which are $420,000 and $280,000 respectively, are not relevant when calculating the total cost. The fair values are not indicative of the actual costs incurred by Falcon Waste Management during the acquisition.