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

---

Definitions:

Suppress

To consciously or unconsciously hold back, inhibit, or stop an action, thought, or emotion from being expressed.

Phobia

An intense and irrational fear of specific situations, objects, or activities that results in a compelling desire to avoid the dreaded subject or situation.

Expressway Overpasses

Expressway overpasses are structures that allow roads or highways to cross over each other or other obstacles without interfering with the flow of traffic on either route.

Unreasonable

Not guided by or based on good sense or rational thinking.