On October 15,20X1,Planet Company Sold Inventory to Stars Corporation,its Mexican

Multiple Choice

On October 15,20X1,Planet Company sold inventory to Stars Corporation,its Mexican subsidiary.The goods cost Planet $2,700 and were sold to Stars for $3,500,payable in Mexican pesos.The goods are still on hand at the end of the year on December 31.The Mexican peso is the functional currency of Stars.The exchange rates follow:

-Based on the preceding information,at what amount is the inventory shown on the consolidated balance sheet for the year?

A) $2,700
B) $3,200
C) $3,500
D) $4,000