REFERENCE: Ref.09_02 Brisco Bricks Purchases Raw Material from Its Foreign Supplier,Bolivian Clay,on

question 73

Multiple Choice

REFERENCE: Ref.09_02
Brisco Bricks purchases raw material from its foreign supplier,Bolivian Clay,on May 8.Payment of 2,000,000 foreign currency units (FC) is due in 30 days.May 31 is Brisco's fiscal year-end.The pertinent exchange rates were as follows:
-Meisner Co.ordered parts costing §100,000 for a foreign supplier on May 12 when the spot rate was $.24 per stickle.A one-month forward contract was signed on that date to purchase §100,000 at a forward rate of $.25 per stickle.On June 12,when the parts were received and payment was made,the spot rate was $.28 per stickle.At what amount should inventory be reported?

• A)$0.
• B)$28,000.
• C)$24,200.
• D)$25,000.
• E)$2,000.

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Definitions:

Chromosomal Abnormalities

Variations in the number or structure of chromosomes, often leading to genetic disorders.

Heritable Disorders

Genetic conditions that can be passed down from one generation to the next, often involving abnormalities in DNA.

Genetic Concepts

Fundamental ideas in genetics, including inheritance, DNA structure and function, gene expression, and genetic variation.

Low-MAOA Gene

Associated with a variant of the MAOA gene that might result in lower activity of the enzyme, potentially affecting behavior and mood.