Amount of goodwill resulting from the business combination

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On 1 February 2005 Diletta & Co paid EUR 620,000 to acquire all the issued shares of Lollo SpA. The recorded assets and liabilities of Lollo SpA on 1 February 2005 are (amounts in thousands of euro):

Cash and cash equivalents

 

60

Inventory

 

180

PPE

 

 

Historical cost

540

 

Accumulated depreciation

(220)

 

Net book value

 

320

Intangible assets

 

100

Liabilities

 

(120)

Net assets

 

540

On 1 February 2005 Lollo's inventory had a fair value of EUR 150 and its PPE had a fair value of EUR 380. What is the amount of goodwill resulting from the business combination?

Reference no: EM131340687

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