The British Subsidiary of a U

question 49

Multiple Choice

The British subsidiary of a U.S.company reported cost of goods sold of 75,000 pounds (sterling) for the current year ended December 31.The beginning inventory was 10,000 pounds,and the ending inventory was 15,000 pounds.Spot rates for various dates are as follows:

Assuming the dollar is the functional currency of the British subsidiary,the remeasured amount of cost of goods sold that should appear in the consolidated income statement is:

• A)$108,750.
• B)$112,500.
• C)$114,250.
• D)$125,700.

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Definitions:

Lysergic Acid Diethylamide

A psychedelic drug known for its psychological effects, which can include altered awareness of surroundings, perceptions, and feelings.

Divided-Consciousness View

A theory suggesting that during hypnosis, consciousness splits into different streams, one following the hypnotist's commands and the other acting as a "hidden observer."

Hypnosis

A trance-like state of focused attention and increased suggestibility, often used for therapeutic purposes.

Sensory Input

Information received by the senses which can then be processed by various systems of the body such as the nervous system.