On October 15,20X1,Planet Company sold inventory to Stars Corporation,its Mexican subsidiary.The goods cost Planet $2,700 and were sold to Stars for $3,500,payable in Mexican pesos.The goods are still on hand at the end of the year on December 31.The Mexican peso is the functional currency of Stars.The exchange rates follow:

-Based on the preceding information,at what dollar amount is the ending inventory shown in the subsidiary's trial balance column of the consolidation worksheet?

Question

On October 15,20X1,Planet Company sold inventory to Stars Corporation,its Mexican subsidiary.The goods cost Planet $2,700 and were sold to Stars for $3,500,payable in Mexican pesos.The goods are still on hand at the end of the year on December 31.The Mexican peso is the functional currency of Stars.The exchange rates follow:
 
-Based on the preceding information,at what dollar amount is the ending inventory shown in the subsidiary's trial balance column of the consolidation worksheet?

Quizplus · Accepted Answer

The Answer of On October 15,20X1,Planet Company sold inventory to Stars Corporation,its Mexican subsidiary.The goods cost Planet $2,700 and were sold to Stars for $3,500,payable in Mexican pesos.The goods are still on hand at the end of the year on December 31.The Mexican peso is the functional currency of Stars.The exchange rates follow:
 
-Based on the preceding information,at what dollar amount is the ending inventory shown in the subsidiary's trial balance column of the consolidation worksheet?

On October 15,20X1,Planet Company Sold Inventory to Stars Corporation,its Mexican