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
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|
|
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Historical cost
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540
|
|
|
Accumulated depreciation
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(220)
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|
|
Net book value
|
|
320
|
|
Intangible assets
|
|
100
|
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Liabilities
|
|
(120)
|
|
Net assets
|
|
540
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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?