| Basis of Presentation and Summary of significant accounting policies | Note 2 – Basis of Presentation and Summary
of significant accounting policies Basis of Presentation The unaudited condensed consolidated financial
statements include the accounts of the Company and its subsidiaries and VIE and have been prepared in accordance with accounting principles
generally accepted in the United States of America (“U.S. GAAP”) and the requirements of the U.S. Securities and Exchange
Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information
that are normally required by U.S. GAAP can be condensed or omitted. These unaudited condensed consolidated financial statements have
been prepared on the same basis as its annual consolidated financial statements and, in the opinion of management, reflect all adjustments,
consisting only of normal recurring adjustments, which are necessary for the fair statement of the Company’s financial information.
These interim results are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2023, or for any
other interim period or for any other future year. All intercompany balances and transactions have been eliminated in consolidation. These unaudited condensed consolidated financial
statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto included
in the Company’s Annual Report on Form10-K for the year ended June 30, 2022, filed with the SEC on September 28, 2022. Principles of Consolidation The unaudited condensed consolidated financial
statements include the accounts of the Company and its subsidiaries, E Marketing Solution Inc., Global Product Marketing Inc., Global
Social Media, LLC, and Anivia Limited and its subsidiaries and VIE, including Fly Elephant Limited, Dayourenzai (Shenzhen) Technology
Co., Ltd., and Daheshou (Shenzhen) Information Technology Co., Ltd. All inter-company balances and transactions have been eliminated. Emerging Growth Company Status The company is an “emerging growth company,”
as defined in Section 2(a) of the Securities Act of 1933, as amended, (the “Securities Act”), as modified by the Jumpstart
our Business Startups Act of 2012, (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting
requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being
required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations
regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding
advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts
emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that
is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered
under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company
can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but
any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that
when a standard is issued or revised and it has different application dates for public or private companies, the company, as an emerging
growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison
of the company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth
company which has opted out of utilizing the emerging growth company reduced reporting requirements. Use of estimates and assumptions The preparation of financial statements in conformity
with U.S. GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities reported and disclosures
of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during
the periods presented. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at
the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one
or more future confirming events. Accordingly, the actual results could differ significantly from those estimates. Foreign currency translation and transactions The reporting and functional currency of iPower
and subsidiaries is the U.S. dollar (USD). iPower’s WFOE and VIE in China uses the local currency, Renminbi (“RMB”),
as its functional currency. Assets and liabilities of the VIE are translated at the current exchange rate as quoted by the People’s
Bank of China (the “PBOC”) at the end of the period. Income and expense accounts are translated at the average translation
rates and the equity accounts are translated at historical rates. Translation adjustments resulting from this process are included in
accumulated other comprehensive income (loss) in the statement of changes in stockholders’ equity. Transaction gains and losses
that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in
the results of operations as incurred. The balance sheet amounts of the VIE, with the
exception of equity, on March 31, 2023, were translated at 6.8691 6.933442 Cash and cash equivalents Cash and cash equivalents consist of amounts held
as cash on hand and bank deposits. From time to time, the Company may maintain bank
balances in interest bearing accounts in excess of $250,000, which is currently the maximum amount insured by the Federal Deposit
Insurance Corporation for interest bearing accounts (there is currently no insurance limit for deposits in noninterest bearing accounts).
To date, the Company has not experienced any losses with respect to cash. Management believes the Company is not exposed to any significant
credit risk with respect to its cash. Accounts receivable, net During the ordinary course of business, the Company
extends unsecured credit to its customers. Accounts receivable are stated at the amount the Company expects to collect from customers.
Management reviews its accounts receivable balances each reporting period to determine if an allowance for credit loss is required. The Company evaluates the creditworthiness of
all of its customers individually before accepting them and continuously monitors the recoverability of accounts receivable. If there
are any indicators that a customer may not make payment, the Company may consider making provision for non-collectability for that particular
customer. At the same time, the Company may cease further sales or services to such customer. The following are some of the factors that
the Company develops allowance for credit losses:
· the customer fails to comply with its payment schedule;
· the customer is in serious financial difficulty;
· a significant dispute with the customer has occurred regarding job progress or other matters;
· the customer breaches any of its contractual obligations;
· the customer appears to be financially distressed due to economic or legal factors;
· the business between the customer and the Company is not active; and
· other objective evidence indicates non-collectability of the accounts receivable. Accounts receivable are recognized and carried at carrying
amount less an allowance for credit losses, if any. The Company maintains an allowance for credit losses resulting from the inability
of its customers to make required payments based on contractual terms. The Company reviews the collectability of its receivables on a
regular and ongoing basis. The Company has also included in calculation of allowance for credit losses the potential impact of the COVID-19
pandemic on our customers’ businesses and their ability to pay their accounts receivable. After all attempts to collect a receivable
have failed, the receivable is written off against the allowance. The Company also considers external factors to the specific customer,
including current conditions and forecasts of economic conditions, including the potential impact of the COVID-19 pandemic. In the event
we recover amounts previously written off, we will reduce the specific allowance for credit losses. Equity method investment The Company accounts for its ownership interest
in Box Harmony, a 40 Variable interest entities On February 15, 2022, the Company acquired 100%
of the ordinary shares of Anivia Limited (“Anivia”) and its subsidiaries, including DHS. Pursuant to the terms of the Agreements
for the Company’s acquisition of Anivia and its subsidiaries, including DHS, the Company does not have direct ownership in DHS but
is actively involved in DHS’s operations as the sole manager to direct the activities and significantly impact DHS’s economic
performance. DHS’s operational funding has been provided by the Company following the February 15, 2022 acquisition. During the
term of the Agreements, the Company bears all the risk of loss and has the right to receive all of the benefits from DHS. As such, based
on the determination that the Company is the primary beneficiary of DHS, in accordance with ASC 810-10-25-38A through 25-38J, DHS is considered
a VIE of the Company and the financial statements of DHS have been consolidated from the date such control existed, February 15, 2022.
See Note 4 and Note 5 for details on acquisition. Goodwill Goodwill represents the excess of the purchase
price over the fair value of assets acquired and liabilities assumed. The Company accounts for goodwill under ASC Topic 350, Intangibles-Goodwill
and Other Goodwill is not amortized but is reviewed for
potential impairment on an annual basis, or if events or circumstances indicate a potential impairment, at the reporting unit level. The
Company’s review for impairment includes an assessment of qualitative factors to determine whether it is more likely than not that
the fair value of a reporting unit is less than its carrying value, including goodwill. If it is determined that it is more likely than
not that the fair value of a reporting unit is less than its carrying value, including goodwill, a quantitative goodwill impairment test
is performed, which compares the fair value of the reporting unit with its carrying amounts, including goodwill. If the fair value of
the reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired. However, if the carrying amount
of the reporting unit exceeds its fair value, an impairment loss will be recognized in an amount equal to that excess, limited to the
total amount of goodwill allocated to that reporting unit. The Company engaged an independent third-party valuation firm in August 2022
to conduct an evaluation of goodwill impairment for the Company as a whole at the consolidated reporting unit level as of June 30, 2022,
which evaluation was conducted prior to the Company’s filing of its Annual Report on Form 10-K. Due to the decrease in the Company’s
share price subsequent to the filing of the Form 10-K and the net loss incurred during the quarter ended September 30, 2022, the Company
engaged the same valuation firm to review goodwill for impairment. Based on this review, the Company concluded an impairment loss of $ 3,060,034 During the three months ended March 31, 2023,
the Company performed a qualitative goodwill impairment analysis following the steps laid out in ASC 350-20-35-3C and noted no goodwill
impairment. As of March 31, 2023, the remaining goodwill balance amounted to $ 3,034,110 Intangible Assets, net Finite life intangible assets at March 31, 2023
included a covenant not to compete, supplier relationships, and software recognized as part of the acquisition of Anivia Limited. Intangible
assets are recorded at the estimated fair value of these items at the date of acquisition, February 15, 2022. Intangible assets are amortized
on a straight-line basis over their estimated useful life as followings:
Schedule of estimated useful life
Useful Life
Covenant Not to Compete 10
Supplier relationships 6
Software 5 The Company reviews the recoverability of long-lived
assets, including intangible assets, when events or changes in circumstances occur that indicate the carrying value of the asset may not
be recoverable. The assessment of possible impairment on asset group level is based on the ability to recover the carrying value of the
asset from the expected future pretax cash flows (undiscounted and without interest charges) of the related operations. If these cash
flows are less than the carrying value of such asset, an impairment loss is recognized for the difference between estimated fair value
and carrying value. The measurement of impairment requires management to make estimates of these cash flows related to long-lived assets,
as well as other fair value determinations. As of March 31, 2023, there were no indicators of impairment. Fair values of financial instruments ASC 825, “Disclosures about Fair Value of
Financial Instruments,” requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements”
defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures
about fair value measurements. The carrying amounts of cash and cash equivalents,
accounts receivable, accounts payable and all other current assets and liabilities approximate fair values due to their short-term nature. On February 15, 2022, as part of the consideration
for the acquisition of Anivia Limited, the Company issued a two-year unsecured 6% subordinated promissory note, payable in equal semi-annual
installments commencing August 15, 2022 (the “Purchase Note”). The principal amount of the Purchase Note was $ 3.5
million 3.6
million
Schedule of assumptions for financial instruments
Corporate bond yield 3.1%
Risk-free rate 1.6%
Liquidity premium 0.4%
Discount rate 3.5% As of March 31, 2023,
the outstanding balance of the Purchase Note was $ 2,004,181 44,181 210,000 For other financial instruments to be reported
at fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable
inputs to the extent possible. The Company determines the fair value of its financial instruments based on assumptions that market participants
would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions
in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized
in one of the following levels: Level 1 – Inputs are unadjusted, quoted
prices in active markets for identical assets or liabilities at the measurement date; Level 2 – Inputs are observable, unadjusted
quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities
in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially
the full term of the related assets or liabilities; and Level 3 – Unobservable inputs that are significant
to the measurement of the fair value of the assets or liabilities that are supported by little or no market data. The Company does not have any assets or liabilities
measured at fair value on a recurring basis. We measure certain non-financial assets on a non-recurring basis, including goodwill. As
a result of those measurements, we recognized an impairment charge of $0 and $3.1 million during the three and nine months ended March
31, 2023, as follows:
Schedule of fair value on nonrecurring basis
Total Fair Value Level 1 Level 2 Level 3 Total Impairment Loss
Goodwill $ 3,034,110 $ – $ – $ 3,034,110 $ 3,060,034
Total $ 3,034,110 $ – $ – $ 3,034,110 $ 3,060,034 Goodwill, with a total carrying value of $6.1
million was written down to its fair value of $3.0 million, resulting in an impairment charge of $3,060,034, which was recorded in earnings
for the nine months ended March 31, 2023. The fair value of goodwill was determined based on the discounted cash flow method, which is
an income approach, which required the use of inputs that were unobservable in the marketplace (Level 3), including a discount rate that
would be used by a market participant, projections of revenues and cash flows with the revised projections reflecting the increase in
freight and storage costs in the current interim quarter, among others. Revenue recognition The Company recognizes revenue from product sales revenues, net of promotional discounts
and return allowances, when the following revenue recognition criteria are met: a contract has been identified, separate performance obligations
are identified, the transaction price is determined, the transaction price is allocated to separate performance obligations and revenue
is recognized upon satisfying each performance obligation. The Company transfers the risk of loss or damage upon shipment, therefore,
revenue from product sales is recognized when it is shipped to the customer. Return allowances, which reduce product revenue by the Company’s
best estimate of expected product returns, are estimated using historical experience. The Company evaluates the criteria of ASC 606 -
Revenue Recognition Principal Agent Considerations in determining whether it is appropriate to record the gross amount of product sales
and related costs or the net amount earned as commissions. Generally, when the Company is primarily responsible for fulfilling the promise
to provide a specified good or service, the Company is subject to inventory risk before the good or service has been transferred to a
customer and the Company has discretion in establishing the price, revenue is recorded at gross. Payments received prior to the delivery of goods to customers are recorded
as customer deposits. The Company periodically provides incentive offers
to its customers to encourage purchases. Such offers include current discount offers, such as percentage discounts off current purchases
and other similar offers. Current discount offers, when accepted by the Company’s customers, are treated as a reduction to the purchase
price of the related transaction. Sales discounts are recorded in the period in
which the related sale is recognized. Sales return allowances are estimated based on historical amounts and are recorded upon recognizing
the related sales. Shipping and handling costs are recorded as selling expenses. Advertising costs Advertising costs are expensed as incurred. Total
advertising and promotional costs included in selling and fulfillment expenses for the three and nine months ended March 31, 2023 and
2022 were as following.
Schedule of advertising costs
Three Months Ended March 31, Nine Months Ended March 31,
2023 2022 2023 2022
Advertising and promotion $ 1,304,662 $ 733,241 $ 3,777,122 $ 1,945,222 Cost of revenue Cost of revenue mainly consists of costs for purchases
of products and related inbound freight and delivery fees. Operating expenses Operating expenses, which consist of selling and fulfillment and general
and administrative expenses, are expensed as incurred. Inventory Inventory consists of finished goods ready for
sale and is stated at the lower of cost or market. The Company values its inventory using the weighted average costing method. The Company’s
policy is to include as a part of inventory and costs of goods sold any freight incurred to ship the product from its vendors to warehouses.
Outbound freight costs related to shipping costs to customers are considered periodic costs and are reflected in selling and fulfillment
expenses. The Company regularly reviews inventory and considers forecasts of future demand, market conditions and product obsolescence. If the estimated realizable value of the inventory
is less than cost, the Company makes provisions in order to reduce its carrying value to its estimated market value. The Company also
reviews inventory for slow moving inventory and obsolescence and records allowance for obsolescence. Debt Issuance Costs Costs incurred in connection with the issuance
of debt are deferred and amortized as interest expense over the term of the related debt using the effective interest method. To the extent
that the debt is outstanding, these amounts are reflected in the consolidated balance sheets as direct deductions from the carrying amount
of the outstanding borrowings. Segment reporting The Company follows ASC 280, Segment Reporting.
The Company’s chief operating decision maker, the Chief Executive Officer, reviews the consolidated results of operations when making
decisions about allocating resources and assessing the performance of the Company as a whole and, hence, the Company has only one reportable
segment. The Company does not distinguish between markets or segments for the purpose of internal reporting. For the nine months ended
March 31, 2023, sales through Amazon to Canada and other foreign countries were approximately 12.8 46 54 2.3 million Leases The Company records right-of-use (“ROU”)
assets and related lease obligations on the balance sheet. ROU assets represent our right to use an underlying
asset for the lease terms and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease
ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the
Company’s leases do not provide an implicit rate, the Company generally uses its incremental borrowing rate based on the estimated
rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. The operating lease ROU
asset also includes any lease payments made and excludes lease incentives. Lease expense for lease payments is recognized on a straight-line
basis over the lease term. Stock-based Compensation The Company applies ASC No. 718, “Compensation-Stock
Compensation,” which requires that share-based payment transactions with employees and nonemployees upon adoption of ASU 2018-07,
be measured based on the grant date fair value of the equity instrument and recognized as compensation expense over the requisite service
period, with a corresponding addition to equity. Under this method, compensation cost related to employee share options or similar equity
instruments is measured at the grant date based on the fair value of the award and is recognized over the period during which an employee
is required to provide service in exchange for the award, which generally is the vesting period. In addition to requisite service period,
the Company also evaluates the performance condition and market condition under ASC 718-10-20. For an award which contains both a performance
and a market condition, and where both conditions must be satisfied for the award to vest, the market condition is incorporated into the
fair value of the award, and that fair value is recognized over the employee’s requisite service period or nonemployee’s vesting
period if it is probable the performance condition will be met. If the performance condition is ultimately not met, compensation cost
related to the award should not be recognized (or should be reversed) because the vesting condition in the award has not been satisfied. The Company will recognize forfeitures of such
equity-based compensation as they occur. Income taxes The Company accounts for income taxes under the
asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences
between the financial statement carrying amounts of existing assets and liabilities and their perspective tax bases. Deferred tax assets
and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the temporary differences
are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income
in the period that includes the enactment date. Deferred income tax assets are recognized only to the extent that management determines
that it is more-likely-than-not that the deferred income tax assets will be realized. Valuation allowances are recorded, when necessary,
to reduce deferred tax assets to the amount expected to be realized. The Company has analyzed filing positions in each
of the federal and state jurisdictions where the Company is required to file income tax returns, as well as open tax years in such jurisdictions.
The Company has identified the U.S. federal jurisdiction, and the states of Nevada and California, as its “major” tax jurisdictions.
However, the Company has certain tax attribute carryforwards which will remain subject to review and adjustment by the relevant tax authorities
until the statute of limitations closes with respect to the year in which such attributes are utilized. The Company believes that our income tax filing
positions and deductions will be sustained on audit and do not anticipate any adjustments that will result in a material change to its
financial position. Therefore, no reserves for uncertain income tax positions have been recorded pursuant to ASC 740. The Company’s
policy for recording interest and penalties associated with income-based tax audits is to record such items as a component of income taxes. Commitments and contingencies In the ordinary course of business, the Company
is subject to certain contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of
matters, such as government investigations and tax matters. The Company recognizes a liability for such contingency if it determines it
is probable that a loss has occurred and a reasonable estimate of the loss can be made. The Company may consider many factors in making
these assessments including historical and specific facts and circumstances of each matter. Earnings per share Basic earnings per share are computed by dividing
net income attributable to holders of common stock by the weighted average number of shares of common stock outstanding during the year.
Diluted earnings per share reflect the potential dilution that could occur if securities to issue common stock were exercised. Recently issued accounting pronouncements In June 2022, FASB issued ASU 2022-03, Fair
Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. The amendments in
this ASU clarify the guidance in ASC 820 on the fair value measurement of an equity security that is subject to a contractual sale restriction
and require specific disclosures related to such an equity security. This standard is effective for fiscal years beginning after December
15, 2024. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements. In October 2021, the FASB issued ASU 2021-08,
Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. This ASU
clarifies that an acquirer of a business should recognize and measure contract assets and contract liabilities in a business combination
in accordance with ASU 2014-09, Revenue from Contracts with Customers (Topic 606) as if the entity had originated the contracts.
The guidance is effective for fiscal years beginning after December 15, 2023, with early application permitted. The Company does not expect
the adoption of this standard to have a material impact on the consolidated financial statements. In March 2020 and January 2021, the FASB issued
ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting and ASU
No. 2021-01, Reference Rate Reform (Topic 848): Scope, respectively (collectively, “Topic 848”). Topic 848 provides optional
expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions that reference the London Interbank
Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. The expedients
and exceptions provided by Topic 848 are effective for all entities as of March 12, 2020 through December 31, 2022. The Company does not
expect the adoption of this standard to have a material impact on the Company's consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, “Debt
– Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity
(Subtopic 815-40).” This ASU reduces the number of accounting models for convertible debt instruments and convertible preferred
stock, as well as amend the guidance for the derivatives scope exception for contracts in an entity’s own equity to reduce form-over-substance-based
accounting conclusions. In addition, this ASU improves and amends the related EPS guidance. This standard is effective for the Company
on July 1, 2024, including interim periods within those fiscal years. Adoption is either a modified retrospective method or a fully retrospective
method of transition. The Company does not expect the adoption of this standard to have a material impact on the consolidated financial
statements. In January 2020, the FASB issued ASU 2020-01,
“Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging
(Topic 815) - Clarifying the Interactions between Topic 321, Topic 323, and Topic 815.” This ASU among other things clarifies that
a company should consider observable transactions that require a company to either apply or discontinue the equity method of accounting
under Topic 323, Investments—Equity Method and Joint Ventures, for the purposes of applying the measurement alternative in accordance
with Topic 321 immediately before applying or upon discontinuing the equity method. The new ASU clarifies that, when determining the accounting
for certain forward contracts and purchased options a company should not consider, whether upon settlement or exercise, if the underlying
securities would be accounted for under the equity method or fair value option. ASU 2020-01 is effective for public business entities
for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. An entity should apply ASU 2020-01
prospectively at the beginning of the interim period that includes the adoption date. The Company adopted ASU 2020-01 on July 1, 2022.
The adoption of ASU 2020-01 did not have material impact on the Company's consolidated financial statements. In December 2019, the FASB issued ASU 2019-12,
Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes. The update is intended to simplify the current rules regarding
the accounting for income taxes and addresses several technical topics including accounting for franchise taxes, allocating income taxes
between a loss in continuing operations and in other categories such as discontinued operations, reporting income taxes for legal entities
that are not subject to income taxes, and interim accounting for enacted changes in tax laws. The new standard is effective for fiscal
years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022; however, early adoption
is permitted. The Company adopted ASU 2019-12 on July 1, 2022. The adoption of this standard did not have material impact on the consolidated
financial statements. In January 2017, the FASB issued ASU 2017-04,
“Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment,” which eliminates step two
from the goodwill impairment test. Under ASU 2017-04, an entity should recognize an impairment charge for the amount by which the carrying
amount of a reporting unit exceeds its fair value up to the amount of goodwill allocated to that reporting unit. ASU 2017-04 |
