Business, 18.12.2019 19:31 thickbeanpapi

Au. s. company’s foreign subsidiary had these amounts in local currency units (lcu) in 2017: cost of goods sold lcu 5,030,000beginning inventory 504,000ending inventory 610,000the average exchange rate during 2017 was $1.00 = lcu 1. the beginning inventory was acquired when the exchange rate was $0.80 = lcu 1. ending inventory was acquired when the exchange rate was $1.10 = lcu 1. the exchange rate at december 31, 2017, was $1.15 = lcu 1. assuming final pdf to printer translation of foreign currency financial statements 513 hoy44953_ch10_473-532.indd 513 10/07/16 08: 08 pm that the foreign country is highly inflationary, at what amount should the foreign subsidiary’s cost of goods sold be reflected in the u. s. dollar income statement? "

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