Under the temporal method, inventory at net realizable value would be remeasured for the balance sheet at what rate?
A) Beginning of the year rate.
B) Average rate.
C) Current rate.
D) Historical rate.
E) Composite amount.

Question

Quizplus · Accepted Answer

Under the temporal method, inventory at net realizable value is remeasured using the current exchange rate for the balance sheet.

Under the Temporal Method, Inventory at Net Realizable Value Would