In a basket purchase,the total cost is apportioned among the assets purchased according to the relative fair market value of the assets.

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In a basket purchase, the total cost is apportioned among the assets purchased according to the relative fair market value of the assets. This method is used to distribute the cost of purchasing multiple assets in a single transaction. The fair market value of each asset is determined, and the total cost is then allocated among the assets in proportion to their fair market values. This method helps to ensure that each asset is accounted for correctly and that the purchase price of each asset is accurately reflected in the company's financial statements.

In a Basket Purchase,the Total Cost Is Apportioned Among the Assets