House Corporation has been operating profitably since its creation in 1960. At the beginning of 2019, House acquired a 70 percent ownership in Wilson Company. At the acquisition date, House prepared the following fair-value allocation schedule: Consideration transferred for 70% interest in Wilson Fair value of the 30% noncontrolling interest Wilson business fair value Wilson book value Excess fair value over book value Dok rint rences To equipment (4-year remaining life) To buildings (20-year remaining life) $ 787,500 337,500 $ 1,125,000 $ 791,000 334,000 Assignments to adjust Wilson's assets to fair value: $ 95,000 (30,800) To franchises (10-year remaining life) To goodwill (indefinite life) 86,000 $ 150, 200 183,800 House regularly buys inventory from Wilson at a markup of 25 percent more than cost. House's purchases during 2019 and 2020 and related ending inventory balances follow: Intra-Entity Year 2019 2020 Purchases $97,500 131,250 Remaining Intra-Entity Inventory- End of Year (at transfer price) $32,500 52,500 On January 1, 2021, House and Wilson acted together as co-acquirers of 80 percent of Cuddy Company's outstanding common stock. The total price of these shares was $291,200, indicating neither goodwill nor other specific fair-value allocations. Each company put up one-half of the consideration transferred. During 2021, House acquired additional inventory from Wilson at a price of $275,000. Of this merchandise, 45 percent is still held at year-end. Following are the financial records for the three companies for 2021.