Stuff Company
Cost of goods sold = Opening inventory + Purchases - Closing inventory
a) Conversation of € to $:
€ | rate | $ (€×rate) | ||
Opening inventory | 239,000 | Opening rate | 1.32030 | 315,552 |
Purchases | 855,000 | Average rate | 1.39655 | 11,94,050 |
Closings inventory | 193,000 | Closing rate | 1.47280 | 284,250 |
Cost of goods sold (in $) = 315,552 + 11,94,050 - 284,250
Cost of goods sold (in $) is $ 12,25,352
b) Cost of goods sold (in €) = 239,000 + 855,000 - 193,000
Cost of goods sold (in €) is € 901,000
Please help with this! Stuff Company is a subsidiary of Pland Corporation and is located in...
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