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On October 1, 2019 Ala'a Cor acquired 40% of owner IP of Fadi Cor, for $300,000. At the date of acquisition, the book value of
On October 1, 2019 Ala'a Cor acquired 40% of owner IP of Fadi Cor, for $300,000. At the date of acquisition, the book value of Fadi's net assets were $600,000. The book value of Fadi's net assets equal the fair value except for inventory with a fair value of $80,000 and book value of $60,000. On the basis of this information, what amount of Goodwill will be reported? Select one: O a. $40,000 O b. $44,000 c. $52,000 O d. $60,000
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