Allister acquired 70 percent of Barone in January 2014. In allocating the newly acquired subsidiarys fair value at the acquisition date, Allister noted that Barone had developed a customer list worth $70,000 that was unrecorded on its accounting records and had a four-year remaining life. Any remaining excess fair value over Barones book value was attributed to goodwill. During 2015, Barone sells inventory costing $126,000 to Allister for $172,000. Of this amount, 20 percent remains unsold in Allisters warehouse at year-end