Question: Do we x the rate or divide In addition, no property, plant and equipment were acquired in this period and all inventories on hand at

Do we x the rate or divide

In addition, no property, plant and equipment were acquired in this period and all inventories on hand at year end were purchased in June 2020. The functional currency for Whitehouse Ltd is the US dollar which is subject to a 21% corporate tax rate. The following exchange rates are also applicable (A$1 = $US below): 1 July 2019 0.52 30 June 2020 0.60 Average for June 2020 0.58 Average for 2019-2020 0.56 Average rate for quarter ending 30 June 2020 0.54 Assume the rates for any dates not listed above are 0.62

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