Question: Problem 3. Mee Co. acquired inventory from a foreign entity for 100,000 FCUS foreign currency units). The term is FOB Shipping Point. Relevant information ollows:

Problem 3. Mee Co. acquired inventory from a foreign entity for 100,000 FCUS foreign currency units). The term is FOB Shipping Point. Relevant information ollows: Date Particulars Exchange Rates (1 FCU to LCUS) Dec 1, 20x1 Placement of Order 13.70 LCU Dec 22, 20x1 Date of shipment 13.75 Dec 31, 20x1 End of reporting period 13.80 Jan 8, 20x2 Settlement date 13.50

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