A USCompany's Foreign Subsidiary Had the Following Amounts in Stickles (§)

question 93

Multiple Choice

A U.S.company's foreign subsidiary had the following amounts in stickles (§) , the functional currency, in 2018: The average exchange rate during 2018 was §1 = $.96.The beginning inventory was acquired when the exchange rate was §1 = $1.20.The ending inventory was acquired when the exchange rate was §1 = $.90.The exchange rate at December 31, 2018 was §1 = $.84.Assuming that the foreign nation for the subsidiary had a highly inflationary economy, at what amount should that foreign subsidiary's purchases have been reflected in the 2018 U.S.dollar income statement?

• A) $11,865,600.
• B) $11,577,600.
• C) $11,520,000.
• D) $11,613,600.
• E) $11,523,600.

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Definitions:

Predecessors

Refers to elements or tasks that must be completed before a certain task or element can begin in scheduling and project management.

Successor

An entity or individual that follows or comes after another in a specific role, position, or sequence.

Pessimistic Time

The “worst” activity time that could be expected in a PERT network.

Unfavorable Conditions

Circumstances or situations that are detrimental to the success, operation, or performance of a process, project, or activity.