On 30 June 2019, Charles Ltd gained control of Darwin Ltd by purchasing all its share capital. On the control date, the fair values of Darwin Ltd's following assets differed from their carrying amounts:

Carrying amount ($)Fair value ($)

Accounts receivable6 7007 700

Inventory8000084 000

Building (cost $240 000, with nil residual value)210000200 000

Also, Darwin Ltd in its own financial statements at 30 June 2019 disclosed a contingent liability relating to guarantees for loans. Charles Ltd determined that this liability had a fair value of $9,000.

Additional information:

• None of the above inventory was sold to external parties in the year ended 30 June 2020.
• The above building had a further 4 years' useful life at 30 June 2019. Darwin Ltd applied the cost model to buildings and continued to do so after the control date. However, for group/consolidation purposes, revaluation to fair value is the model applied.The group and Darwin Ltd both apply straight-line depreciation to buildings.