The average exchange rate during 2020 was $.96 = §1. The beginning inventory was acquired when the exchange rate was $1.20 = §1. The ending inventory was acquired when the exchange rate was $.90 = §1 and current market value of the inventory is higher than the acquisition cost. The exchange rate at December 31, 2020 was $.84 = §1. Assuming that the foreign country had a highly inflationary economy, at what amount should the foreign subsidiary's cost of goods sold have been reflected in the U. S. dollar income statement?

$11,613,600

Explanation:

Beginning Inventory 240 * rate at that date 1.20 = 288,000

Purchase 12,360, 000 * 0.96 average for the year = 11,865,600

Available for sale =(11,865,600+288,000)

12,153,600

Ending 600,000 * BalanceSheet HR .90 = 540,000

COGS =( 12,153,600-540,000) $11,613,600

Therefore Assuming that the foreign country had a highly inflationary economy, at what amount should the foreign subsidiary's cost of goods sold have been reflected in the U.S. dollar income statement will be $11,613,600

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number

answer; it can vividly demonstrate product attributes and persuasively explain their corresponding consumer benefits;