Dalmatian Corp. follows IFRS and had the following transactions during its year ended December 31: Spent $135,000
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Question:
Dalmatian Corp. follows IFRS and had the following transactions during its year ended December 31:
Spent $135,000 developing its brand.
Incurred development costs of $254,000 for a new product that met all the intangible asset recognition criteria on September 30 of that same year.
Of the $254,000 spent, $160,000 was incurred after September 30.
Purchased a customer list for $89,000 from a competitor that was closing its business.
What is the total cost of intangible assets that were capitalized during 2020?
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