Suppose inventory is valued at cost. The average exchange rate during 2022 was 1=$1.1. The...
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Suppose inventory is valued at cost. The average exchange rate during 2022 was 1=$1.1. The beginning inventory was acquired when the exchange rate was 1=$1.20. The ending inventory was acquired when the exchange rate was 1=$1.05. The exchange rate at December 31, 2022 was 1=$1.08. Under the temporal method, at what amount should the foreign subsidiary's cost of goods sold have been reflected in the 2022 U.S. dollar income statement? $43,200$57,619$44,170$44,000
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Suppose inventory is valued at cost. The average exchange rate during 2022 was 1=$1.1. The beginning inventory was acquired when the exchange rate was 1=$1.20. The ending inventory was acquired when the exchange rate was 1=$1.05. The exchange rate at December 31, 2022 was 1=$1.08. Under the temporal method, at what amount should the foreign subsidiary's cost of goods sold have been reflected in the 2022 U.S. dollar income statement? $43,200$57,619$44,170$44,000 