On July 1, 2012, CDN purchased inventory from its main U.S. supplier, RNB Enterprises, at a cost of US$1,000. CDN's year end is on July 31. Some important dates regarding this transaction, as well as the exchange rates in effect at each of these dates are shown below: What was the cost to CDN of the amount paid to RNB on the settlement date?

Question

On July 1, 2012, CDN purchased inventory from its main U.S. supplier, RNB Enterprises, at a cost of US$1,000. CDN's year end is on July 31. Some important dates regarding this transaction, as well as the exchange rates in effect at each of these dates are shown below:  What was the cost to CDN of the amount paid to RNB on the settlement date?

Quizplus · Accepted Answer

The Answer is A

On July 1, 2012, CDN Purchased Inventory from Its Main