Answer questions 16 and 17 based on the following information Gues is a German subsidiary...
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Answer questions 16 and 17 based on the following information Gues is a German subsidiary of a U.S. company. Gutten's ending inventory is valued at the cost for the starter of the year. The following account balances are available for Gutten for 2018 300,000 10.000 51.03 De 20 1.06 - ET 16. Compute the cost of goods sold for 2018 in US dollars using the temporal method b. $3.556 300 17. Compute ending investory for 2018 under the current rate method. $123.500 18. O A I .2018, Joseph Company, US copy, stered into a three-month forward contratto purchase 600.000 ringgit on October 31, 2018, safi valehedge of a foreign currency denominated con pable. The following US dollar per francs exchange rates apply: Forward Rate Date Spot Rate Mar, 2019) August , 2018 50 60 September 10, 2018 October 31, 2019 Joseph's incremental borrowing rate is 12 percent. The present value factor for one month annual interest rate of 12 percentis 09901. September is Joseph Company's year-end. Which of the following is included in Joseph's September 30, 2018 balance sheet for the forward contract a $24,000 asset $24.000 liability c. $21,762.4 liability d $31,681.2 asset e $23.762.4 asset
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