Star Corporation of Britain is 100% owned subsidiary of Planet Corporation, a U.S. firm. Stars...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Star Corporation of Britain is 100% owned subsidiary of Planet Corporation, a U.S. firm. Stars ending inventory was reported as 10,000 LCU. This inventory was acquired when the exchange rate was $0.58. The weighted average rate for the current year was $0.61, and the current exchange rate on the balance sheet date is $0.65
Inventory will be reported at the following amount on translated financial statements:
Select one:
a.
$5,800
b.
$6,100
c.
$6,500
d.
$10,000
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.