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 amount is the inventory shown on the consolidated balance sheet for the year?

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 amount is the inventory shown on the consolidated balance sheet for the year?

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 amount is the inventory shown on the consolidated balance sheet for the year?

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