Beauty Inc. paid $1,550,000 for all the net assets of Beast Ltd. At acquisition, the carrying value of the net assets of Beast was $1,300,000. The fair values of all the assets and liabilities were equal to the carrying value with the exception of the following: Carrying value Fair value Accounts receivable $ 45,000 $ 40,000 Inventory 175,000 235,000 Patent 200,000 300,000 On the date $ 45,000 $405,000 $415,000 $ 95,000