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What mara company should record the cost of the chocolate as

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Problem 1: On July 1, 2018, Mara Company purchases 1,000 pounds of Swiss chocolate for 50,000 Swiss francs, payable in 60 days. On July 1, a Swiss franc is worth P27.29; by August 30, the day of payment, the Swiss franc is worth P27. The 60-day forward rate on July 1 is 1 Swiss franc = P28. Mara company should record the cost of the chocolate as

Reference no: EM132756586

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