Best Finance Corporation has an Italian subsidiary ( Keith Solutions ) . In the remeasurement of the

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Question:

Best Finance Corporation has an Italian subsidiary

(

Keith Solutions

) .

In the remeasurement of the income statement, the value of beginning inventory is

3, 000 .

The purchases during the year amount to

21, 800 .

The ending inventory is

4, 800 .

The exchange rate in the beginning is

1 =

1.00 .

The average exchange rate is

1 =

1.25,

and the exchange rate at the time of acquisition of the ending inventory is

1

=

1.30 .

What is the remeasured value of cost of goods sold in dollars?

Posted Date: May 14, 2024 02:16 AM

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Best Finance Corporation has an Italian subsidiary ( Keith Solutions ) . In the remeasurement of the

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