Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 01 Jun 2017 My Price 15.00

concept of current rate method of translation and temporal method of translation

  1. What is the concept of current rate method of translation and temporal method of translation? How does balance sheet exposure differ under these two methods?
  2. The 2010 financial statement of Child Co. Inc (Mexico), a subsidiary of Parent Co. Inc (United States), reveals the following information:

Beginning Inventory

Peso 100,000

Purchases

Peso 500,000

Ending Inventory

Peso 150,000

COGS

Peso 450,000

US dollar exchange rate for 1 Peso:

  

January 1, 2010

$0.45

Average, 2010

$0.42

December 31, 2010

$0.38

 

The beginning inventory was acquired when the exchange rate was $0.50 last quarter of 2009; ending inventory was acquired when the exchange rate was $0.40 last quarter of 2010.

 

Report amounts of ending inventory and cost of goods sold to be included in the consolidated financial statements under (1) Current rate method and (2) Temporal method.

Answers

Maurice Tutor
(5)
Status NEW Posted 01 Jun 2017 08:06 PM My Price 15.00

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