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A Foreign Subsidiary Uses the First-In First-Out Inventory Method

Question 67

Multiple Choice

A foreign subsidiary uses the first-in first-out inventory method. The following inventory balances are given at December 31, 2021 in local currency units (LCU) : A foreign subsidiary uses the first-in first-out inventory method. The following inventory balances are given at December 31, 2021 in local currency units (LCU) : The following exchange rates are given for 2021: Compute the December 31, 2021, inventory balance using the current rate method. A) $454,400. B) $457,600. C) $596,400. D) $419,000. E) $321,000. The following exchange rates are given for 2021: A foreign subsidiary uses the first-in first-out inventory method. The following inventory balances are given at December 31, 2021 in local currency units (LCU) : The following exchange rates are given for 2021: Compute the December 31, 2021, inventory balance using the current rate method. A) $454,400. B) $457,600. C) $596,400. D) $419,000. E) $321,000. Compute the December 31, 2021, inventory balance using the current rate method.


A) $454,400.
B) $457,600.
C) $596,400.
D) $419,000.
E) $321,000.

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