please please please right answers only. posted twice both times were wrong! need the correct...

90.2K

Verified Solution

Question

Accounting

please please please right answers only. posted twice both times were wrong! need the correct answer thank u
image
Stuff Company is a subsidiary of Pland Corporation and is located in Madrid, Spain, where the currency is the euro ( C). Data on Stuff's Inventory and purchases are as follows: The beginning inventory was acquired during the fourth quarter of 206, and the ending inventory was acquired during the fourth quarter of 207. Purchases were made evenly over the year. Exchange rates were as follows: Required: a. Show the remeasurement of cost of goods sold for 207, assuming that the U.S. dollar is the functional currency. Note: Round your intermediate calculations and final answer to nearest dollar amount. b. Show the translation of cost of goods sold for 207, assuming that the euro is the functional currency. Note: Round your final answer to nearest dollar amount. Answer is complete but not entirely correct. Stuff Company is a subsidiary of Pland Corporation and is located in Madrid, Spain, where the currency is the euro ( C). Data on Stuff's Inventory and purchases are as follows: The beginning inventory was acquired during the fourth quarter of 206, and the ending inventory was acquired during the fourth quarter of 207. Purchases were made evenly over the year. Exchange rates were as follows: Required: a. Show the remeasurement of cost of goods sold for 207, assuming that the U.S. dollar is the functional currency. Note: Round your intermediate calculations and final answer to nearest dollar amount. b. Show the translation of cost of goods sold for 207, assuming that the euro is the functional currency. Note: Round your final answer to nearest dollar amount. Answer is complete but not entirely correct

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students