Under the current rate method, inventory at market would be translated 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

The current rate method requires that all assets and liabilities be translated at the current exchange rate on the balance sheet date. Therefore, inventory at market would also be translated at the current exchange rate.

Under the Current Rate Method, Inventory at Market Would Be