Question: Requlred Informetlon A foreign subsidiary uses the first-in first-out inventory method. The following inventory balances are given at December 31, 2018 in local currency units

Requlred Informetlon A foreign subsidiary uses the first-in first-out inventory method. The following inventory balances are given at December 31, 2018 in local

Requlred Informetlon A foreign subsidiary uses the first-in first-out inventory method. The following inventory balances are given at December 31, 2018 in local currency units (LCU): Inventory at cost Inventory at net realizable value 328,88e LCU 428,88e LCU The following exchange rates are glven for 2018: th $ 1.43= 1 LCU 1.421 LCU quarter average, 2818 December 31,2818 Compute the December 31, 2018, inventory balance using the lower of cost or net realizable value method under the temporal method. Compute the December 31, 2018, inventory balance using the lower of cost or net realizable value method under the temporal method. Multiple Choice $321,000. $457600. $454400

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