REFERENCE: Ref.10_07 The Following Inventory Balances for 2008 in Local Currency Units

question 78

Multiple Choice

REFERENCE: Ref.10_07
The following inventory balances for 2008 in local currency units (LCU) are given:
SHAPE \* MERGEFORMAT

-Compute the December 31,2008,inventory balance using the current rate method.

• A)$454,400.
• B)$457,600.
• C)$596,000.
• D)$568,000.
• E)$473,600.

---

Definitions:

Swerved

To suddenly change direction, often to avoid a collision or obstacle.

Avoid

In legal terms, to nullify or declare a contract void and unenforceable, as if it never existed.

Reasonable Person

A legal standard used to determine how an average person would responsibly act in certain circumstances.

Duty

A legal or moral obligation to act or refrain from acting in a certain way.