Which of the following is not required when using the retail inventory method? A record of the total cost and retail value of the goods available for sale. All inventory items must be categorized according to the retail markup percentage which reflects the item's selling price. Total sales amount for the period. A record of the total cost and retail value of the goods purchased.

In early january, burger mania acquired 100% of the common stock of the crispy taco restaurant chain. the purchase price allocation included the following items: $4 million, patent; $3 million, trademark considered to have an indefinite useful life; and $5 million, goodwill. burger mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life. what is the total amount of amortization expense that would appear in burger mania's income statement for the first year ended december 31 related to these items?