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category of items) listed on the inventory, petitioners made
entries in designated columns for: (1) Number of items
destroyed; (2) date and place of purchase; (3) “original cost”;
and (4) replacement cost at or about the time of the fire.
For a few items, there is a variance between the entries
made for original cost and the replacement cost. For most, if
not all, of those few items, the replacement cost is higher than
petitioners’ estimated original cost for that item.
For most items, either the amounts entered for original cost
and the replacement cost are identical, or, if more than one item
was destroyed, the replacement cost listed is the product of the
number of items multiplied by the amount listed as the original
cost of the items. It appears that for these items, amounts
entered in the “original cost” column do not, as the name
suggests, represent petitioners’ costs of the items, but instead
duplicate petitioners’ estimate of the replacement costs of those
items.
From the information supplied by petitioners, Westfield
computed the “actual cash value” of each item listed on the
inventory by applying a depreciation factor, ranging from 20
percent to 70 percent, to the replacement cost of each item. The
total of the amounts listed as original cost cannot be determined
from the copy of the inventory placed into the record because
relevant portions of the document are obscured by overlays.
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Last modified: May 25, 2011