chapter 5 problem 16

b. $248,000 c. $250,000 d. $260,000 16. Following are several figures reported for Allister and Barone as of December 31 LO 5-2,5-3,5-5 Inventory... Sales ... Investment income...... Cost of goods sold...... Operating expenses..... Allister $ 500,000 1,000,000 not given 500,000 230,000 Allister acquired 90 percent of Barone in January 2017. In allocating the new sidiary's fair value at the acquisition date, Allister noted that Barone had develo list worth $78,000 that was unrecorded on its accounting records and had a 4-year Any remaining excess fair value over Barone's book value was attributed to 20 2018, Barone sells inventory costing $130,000 to Allister for $180,000. Of this ama remains unsold in Allister's warehouse at year-end. Determine balances for the following items that would appear on Allister www cial statements for 2018: Inventory b. $248,000 c. $250,000 d. $260,000 16. Following are several figures reported for Allister and Barone as of December 31 LO 5-2,5-3,5-5 Inventory... Sales ... Investment income...... Cost of goods sold...... Operating expenses..... Allister $ 500,000 1,000,000 not given 500,000 230,000 Allister acquired 90 percent of Barone in January 2017. In allocating the new sidiary's fair value at the acquisition date, Allister noted that Barone had develo list worth $78,000 that was unrecorded on its accounting records and had a 4-year Any remaining excess fair value over Barone's book value was attributed to 20 2018, Barone sells inventory costing $130,000 to Allister for $180,000. Of this ama remains unsold in Allister's warehouse at year-end. Determine balances for the following items that would appear on Allister www cial statements for 2018: Inventory