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Business, 12.03.2020 21:54 andyboehm7411

Costco Canada Holdings is a Canadian subsidiary of Costco Wholesale Corporation, a U. S. company. Assume that the following data relate to Costco Canada’s activities for 2020 (in millions). Net monetary assets (liabilities), January 1, 2020 C$ 700 Acquisition of plant assets for debt, February 15, 2020 1,000 Purchase of inventory made evenly during 2020 3,500 Collection of receivables outstanding at January 1, 2020 2,700 Sales made evenly during 2020 6,000 Cost of goods sold 3,300 Depreciation of assets acquired when the exchange rate was $0.85/C$ 400 Current operating expenses (excluding depreciation and amortization),incurred evenly during 2020 1,200 Refinancing or "rollover" of commercial paper 800 Exchange rates ($/C$) during 2020 are: January 1, 2020 $0.80 Average for 2020 $0.75 February 15, 2020 0.78 December 31, 2020 0.72 (a) Assuming Costco Canada’s functional currency is the U. S. dollar, prepare a schedule to compute the remeasurement gain or loss for 2020. Instructions: Use negative signs with answers to indicate a negative exposed position balance. Use negative signs with answers to indicate an amount that reduces the exposed position balance. Using the drop-down menu, select the appropriate answer to indicate a remeasurement gain or remeasurement loss. Do not use a negative sign with your remeasurement gain or remeasurement loss answer.

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