C- In The year 1 financial statement of the Brazilian subsidiary of a Canadian company revealed the following Brazilian Real's Beginning inventory 100000 Purchases 500000 Ending inventory 150000 Cost of goods sold 450000 Canadian dollar (C$) exchange rate for I BrL asfollous January 1, year C$ 0.45 Average year 0.42 December 31,year 0.38 The beginning inventory was acquired in the last quarter of the previous year when the exchange rate was c$0.50 =BrL ., ending inventory was acquired in the last quarter of the current year when the exchange rate was C$ 0.40 = Brli Required Translate the financial statement using current rate method and determine the amounts at which the Bra zilian subsidiary ending inventory and cost of good sold.
C- In The year 1 financial statement of the Brazilian subsidiary of a Canadian company revealed the following Brazilian Real's Beginning inventory 100000 Purchases 500000 Ending inventory 150000 Cost of goods sold 450000 Canadian dollar (C$) exchange rate for I BrL asfollous January 1, year C$ 0.45 Average year 0.42 December 31,year 0.38 The beginning inventory was acquired in the last quarter of the previous year when the exchange rate was c$0.50 =BrL ., ending inventory was acquired in the last quarter of the current year when the exchange rate was C$ 0.40 = Brli Required Translate the financial statement using current rate method and determine the amounts at which the Bra zilian subsidiary ending inventory and cost of good sold.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:C- In The year 1 financial statement of the Brazilian subsidiary of a
Canadian company revealed the following
Brazilian Real's
Beginning inventory
100000
Purchases
500000
Ending inventory
150000
Cost of goods sold
450000
Canadian dollar (C$) exchange rate for I BrL asfollous
January 1, year
C$ 0.45
Average year
0.42
December 31,year
0.38
The beginning inventory was acquired in the last quarter of the previous
year when the exchange rate was c$0.50 =BrL ., ending inventory was
acquired in the last quarter of the current year when the exchange rate
was C$ 0.40 = Brli
Required
Translate the financial statement using current rate method and
determine the amounts at which the Bra zilian subsidiary ending inventory
and cost of good sold.
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