Westmore, Ltd -Westmore Reported Sales of £1,500,000 During 2011

question 89

Multiple Choice

Westmore, Ltd. is a British subsidiary of a U.S. company. Westmore's functional currency is the pound sterling. The following exchange rates were in effect during 2011: $\begin{array}{lrl}\text { Jan. } 1 & £ .1=\$ 1.60 \\\text { June } 30 & £ .1=\$ 1.64 \\\text { Dec. } 31 & £ .1=\$ 1.61\\\text { Weighted average rate for the year }& £ .1=\$ 1.59\\\end{array}$
-Westmore reported sales of £1,500,000 during 2011.What amount (rounded) would have been included for this subsidiary in calculating consolidated sales?

• A)$2,415,000.
• B)$2,400,000.
• C)$2,385,000.
• D)$943,396.
• E)$931,677.

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