A foreign subsidiary uses the first-in first-out inventory method. The following inventory balances are given at December 31, 2011 in local currency units (LCU):

Compute the December 31, 2011, inventory balance using the current rate method.

Question

A foreign subsidiary uses the first-in first-out inventory method. The following inventory balances are given at December 31, 2011 in local currency units (LCU):

Compute the December 31, 2011, inventory balance using the current rate method.

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The Answer of A foreign subsidiary uses the first-in first-out inventory method. The following inventory balances are given at December 31, 2011 in local currency units (LCU):

Compute the December 31, 2011, inventory balance using the current rate method.

A Foreign Subsidiary Uses the First-In First-Out Inventory Method