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_____ a Foreign Subsidiary Has Provided the Following Information with Respect

Question 183

Multiple Choice

_____ A foreign subsidiary has provided the following information with respect to its year-end inventories:
_____ A foreign subsidiary has provided the following information with respect to its year-end inventories: The inventory was acquired when the direct exchange rate was $.14. Assuming that the foreign currency is the functional currency, what should be the valuation of the inventory in dollars? A) $10,000 B) $12,000 C) $13,000 D) $14,000 E) None of the above. The inventory was acquired when the direct exchange rate was $.14. Assuming that the foreign currency is the functional currency, what should be the valuation of the inventory in dollars?


A) $10,000
B) $12,000
C) $13,000
D) $14,000
E) None of the above.

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