Business, 21.05.2020 05:04 dmaxbexkham

A U. S. company's foreign subsidiary had the following amounts in stickles (§) in 2013: COGS § 12,000,000 Ending Inventory 600,000 Beg. inventory 240,000 The average exchange rate during 2013 was §1 = $.96. The beginning inventory was acquired when the exchange rate was §1 = $1.20. The ending inventory was acquired when the exchange rate was §1 = $.90. The exchange rate at December 31, 2013 was §1 = $.84. Assuming that the foreign country had a highly inflationary economy, at what amount should the foreign subsidiary's cost of goods sold have been reflected in the 2013 U. S. dollar income statement? A. $11,253,600. B. $11,577,600. C. $11,649,600. D. $11,613,600. E. $11,523,600. D. $11,613,600. A U. S. company's foreign subsidiary had the following amounts in stickles (§), the functional currency, in 2013: COGS § 12,000,000 Ending Inventory 600,000 Beg. inventory 240,000 The average exchange rate during 2013 was §1 = $.96. The beginning inventory was acquired when the exchange rate was §1 = $1.20. The ending inventory was acquired when the exchange rate was §1 = $.90. The exchange rate at December 31, 2013 was §1 = $.84. At what amount should the foreign subsidiary's cost of goods sold have been reflected in the 2013 U. S. dollar income statement? A. $11,253,600. B. $11,577,600. C. $11,520,000. D. $11,613,600. E. $11,523,600.

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A U. S. company's foreign subsidiary had the following amounts in stickles (§) in 2013: COGS § 12,00...

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