Mercury Company Is a Subsidiary of Neptune Company and Is

question 26

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:

Deviates

Individuals or behaviors that depart from the accepted standards or norms in a society or community.

Abnormality

A deviation from the average or norm, often used in the context of behaviors or conditions that are outside societal expectations or statistical averages.

Acceptable in a Culture

Behaviors, practices, or beliefs that are considered appropriate and conform to the norms within a specific culture.

Old Junk

Derogatory term for objects that are considered useless or of little value, often accumulated over time and cluttering space.