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A foreign operation has the following local inflation rates: Year 1: 10% Year 2: 20% Year 3: 30% Year 4: 10% Year 5:15% What is the applicable cumulative inflation rate that should be used for reporting as of end of year 5. what method will be used for remeasurement or translation of the foreign operation's foreign currency financial statements thank you

A foreign operation has the following local inflation rates: Year 1: 10% Year 2: 20% Year 3: 30% Year 4: 10% Year 5:15% What is the applicable cumulative inflation rate that should be used for reporting as of end of year 5. what method will be used for remeasurement or translation of the foreign operation's foreign currency financial statements thank you

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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6) A foreign operation has the following local inflation rates:

Year 1: 10% Year 2: 20% Year 3: 30% Year 4: 10% Year 5:15%

What is the applicable cumulative inflation rate that should be used for reporting as of end of year 5.

what method will be used for remeasurement or translation of the foreign operation's foreign currency financial statements

thank you

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