The steps in the reporting unit measurement process will be illustrated with the following example of the acquisition of Lakeland Company, which is a purchase of a single operating unit. A. Determine...

The steps in the reporting unit measurement process will be illustrated with the following example of the acquisition of Lakeland Company, which is a purchase of a single operating unit.

A. Determine the valuation method and estimated fair value of the identifiable assets, goodwill, and all liabilities of the reporting unit. At the time of acquisition, the valuations of Lakeland Company’s identifiable assets, liabilities, and goodwill were as shown on page 31. [The asterisk (*) indicates numbers have been rounded for presentation purposes.]