Cost of Land Acquisition for Soccer Wholesale

When Soccer Wholesale purchased the land and warehouse for $770,000, they incurred additional expenditures related to the acquisition. These costs include a commission to the sales agent of $43,100, title insurance of $4,700, and miscellaneous closing costs of $7,400.

To determine the total cost of the land, we need to add up all these expenses. The purchase price of $770,000, commission of $43,100, title insurance of $4,700, and miscellaneous closing costs of $7,400 sum up to $825,200.

However, it's important to note that the warehouse was immediately demolished at an additional cost of $76,300 in anticipation of building a new warehouse. This cost should not be included in the cost of the land as it is directly related to the warehouse and not the land itself.

Therefore, the final answer is that Soccer Wholesale should report the cost of the land as $825,200. This figure represents all the expenditures related to acquiring the land, excluding the demolition costs associated with the warehouse.