Stack Company Is a Subsidiary of Pile Company and Is

question 32

Multiple Choice

Stack Company is a subsidiary of Pile Company and is located in Valparaíso,Chile,where the currency is the Chilean Peso.Data on Stack's inventory and purchases are as follows:
The beginning inventory was acquired during the fourth quarter of 20X7,and the ending inventory was acquired during the fourth quarter of 20X8.Purchases were made evenly over the year.Exchange rates were as follows:

-Based on the preceding information,the translation of cost of goods sold for 20X8,assuming that the Chilean peso is the functional currency is:

• A)$1,700.
• B)$1,760.
• C)$1,680.
• D)$1,692.

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Definitions:

Chicago School

An economic school of thought originating from the University of Chicago, focusing on minimal market regulation and the importance of free-market principles.

Sherman Act

A foundational antitrust law in the United States aimed at promoting competition and prohibiting monopolistic business practices.

Violation

An act that breaks or disobeys the rules, laws, or agreements, often leading to legal consequences.

Restraint Of Trade

Any activity or agreement that restricts competition or interferes with free trade in the marketplace.