Answer :
Purchased goodwill should be written off as soon as possible against retained earnings as an extraordinary item.
The net cost of merchandise acquired is the cost of goods purchased. Add freight to the initial purchase cost before subtracting purchase allowances, purchase discounts, and purchase returns.
Stationery purchased by a stationer is referred to as "Purchases." Cloth purchased from a cloth merchant is referred to as "Purchases." Cement purchased from a cement dealer is referred to as "Purchases."
This is an incomplete question the complete question will be
Purchased goodwill should
a) be written off as soon as possible against retained earnings.
b) be written off as soon as possible as an extraordinary item.
c) be written off by systematic charges as a regular operating expense over the period benefited.
d) not be amortized.
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