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Following are several figures reported for Allister and Barone as of December 31, 2018: Inventory Sales Allister Barone $ 440,000 $ 240,000 880,000 680,000 not
Following are several figures reported for Allister and Barone as of December 31, 2018: Inventory Sales Allister Barone $ 440,000 $ 240,000 880,000 680,000 not given 440,000 340,000 200,000 270,000 Investment income Cost of goods sold Operating expenses Allister acquired 80 percent of Barone in January 2017. In allocating the newly acquired subsidiary's fair value at the acquisition date, Allister noted that Barone had developed a customer list worth $66,000 that was unrecorded on its accounting records and had a 4- year remaining life. Any remaining excess fair value over Barone's book value was attributed to goodwill. During 2018, Barone sells inventory costing $124,000 to Allister for $168,000. Of this amount, 10 percent remains unsold in Allister's warehouse at year-end. Determine balances for the following items that would appear on Allister's consolidated financial statements for 2018: Amounts Inventory Sales Cost of goods sold Operating expenses Net income attributable to noncontrolling interest
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