Suppose the Direct Foreign Exchange Rates in U

question 40

Multiple Choice

Suppose the direct foreign exchange rates in U.S.dollars are:
1 Singapore dollar = $0.7025
1 Cyprus pound = $2.5132
-Based on the information given above,how many U.S.dollars must be paid for a purchase of citrus fruits costing 10,000 Cyprus pounds?

• A)$25,132
• B)$15,132
• C)$3,979
• D)$35,775

Know the requirements for the measurement of inventories subsequent to their initial measurement.

Understand the definitions and applications of net realisable value in inventory valuation.

Recognize the specific disclosures required by AASB 102 concerning inventories.

Distinguish between different inventory classification for financial statement presentation.

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