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GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Sep. 30, 2020
GOODWILL AND OTHER INTANGIBLE ASSETS |
GOODWILL AND OTHER INTANGIBLE ASSETS | 6. GOODWILL AND OTHER INTANGIBLE ASSETS: Goodwill at September 2020 and September 2019 was as follows:
|  | September |  | September
|  | 2020 |  | 2019
Wholesale Segment |  | $ | 4,436,950 |  | $ | 4,436,950
Other intangible assets at September 2020 and September 2019 consisted of the following:
|  | September |  | September
|  | 2020 |  | 2019
Trademarks and tradenames (Retail Segment) |  | $ | 500,000 |  | $ | 500,000
Goodwill, trademarks and tradenames are considered to have indefinite useful lives and therefore no amortization has been taken on these assets. The Company’s retail reporting unit recorded intangible asset (trademarks and tradenames) impairment charges of approximately $2.9 million during fiscal 2019 when it was determined that the carrying values of these assets exceeded their fair values. These impairment charges arose from a range of considerations including, but not limited to, heightened competition in the industry, retail sector market conditions, and earning shortfalls which impacted the Company’s projections of future cash flows to be generated. These impairment charges were recorded in the Company’s consolidated statement of operations as a component of operating income. Goodwill recorded on the Company’s consolidated balance sheet represents amounts allocated to its wholesale reporting unit which totaled $4.4 million at both September 2020 and September 2019. The Company determined that the estimated fair value of its wholesale reporting unit exceeded its carrying value at both September 2020 and September 2019.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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