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At what amount in dollar should the inventory be shown

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Question - Foreign Company buys inventory on May 20, 20X1 for FC1,000 when the exchange was FC1 = S1.00. On December 31, 20X1 the fair value of the inventory is FC1,050 and the exchange rate is FC1 = $0.90. At what amount in dollar should the inventory be shown in the translated financial statements on December 31, 20X1?

Reference no: EM132746720

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