Warren Co., located in Canada, purchased raw materials from a supplier in US for $85,000...
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Accounting
Warren Co., located in Canada, purchased raw materials from a supplier in US for $85,000 US on June 16, 2022 on credit with payment date as October 16, 2022. Warren Co. prepares its financials on a monthly basis. The purchase invoice was paid on due date
The FX rates recorded were as follows:
16-Jun USD 1 = 1.245 CDN
30-Jun USD 1 = 1.221 CDN
31-Jul USD 1 = 1.261 CDN
31-Aug USD 1 = 1.258 CDN 30-
Sep USD 1 = 1.299 CDN 16
Oct. USD 1 = 1.287 CDN
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