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Assume that RadCo International purchases ski equipment on account from a German exporter on October 1 and that the sale is denominated in 500,000 German marks. RadCo closes its books at the end of each month, and the payable is due on November 15. The following are the relevant exchange rates.
Questions 34-38 assumes the treatment of FASB Statement 52 and that no forward contract is entered into.
-What is the dollar value of purchases on October 31?
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