Answer -
a. Answer -
Cost of goods sold = $1225352
Calculation:
Euro (A) | Rate (B) | U.S. Dollar [(A) * (B)] | |
Inventory, January 1, 20X7 | 239000 | 1.32030 | 315552 |
Add: Purchases during 20X7 | 855000 | 1.39655 | 1194050 |
Less: Inventory, December 31, 20X7 | (193000) | 1.47280 | (284250) |
Cost of goods sold | 901000 | 1225352 |
b. Answer -
Cost of goods sold = $1258292
Calculation:
Euro (A) | Rate (B) |
U.S. Dollar [(A) * (B)] |
|
Cost of goods sold | 901000 | 1.39655 | 1258292 |
Help Please Stuff Company is a subsidiary of Pland Corporation and is located in Madrid, Spain,...
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