Mercury Company Is a Subsidiary of Neptune Company and Is

question 57

Multiple Choice

Mercury Company is a subsidiary of Neptune Company and is located in Valparaíso, Chile, where the currency is the Chilean Peso. Data on Mercury's inventory and purchases are as follows: The beginning inventory was acquired during the fourth quarter of 20X7, and the ending inventory was acquired during the fourth quarter of 20X8. Purchases were made evenly over the year. Exchange rates were as follows:
Refer the information provided above. Assuming the U.S. dollar is the functional currency, what is the amount of Mercury's cost of goods sold remeasured in U.S. dollars?

• A) $1,680
• B) $1,712
• C) $1,700
• D) $1,692

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Definitions:

Questionable Behaviour

Actions that raise doubt about moral, ethical, or proper conduct.

Ethical Rationalizations

Justifications made to excuse or legitimize behavior that may be morally questionable or unethical.

Safe

A secure container used for the storage of valuable objects against theft or damage.

Unethical Behaviour

Actions or practices that violate social norms, laws, or standards of conduct, often causing harm or disadvantage to others.