On November 6 of Year 1, the company purchased inventory (on account) from a supplier located in

Question:

On November 6 of Year 1, the company purchased inventory (on account) from a supplier located in Indonesia. The purchase price is 100,000,000 Indonesian rupiah. On November 6, the was 8,700 rupiah for 1 U.S. dollar. On December 31, the was 10,000 rupiah for 1 U.S. dollar. The company paid the account on March 23 of Year 2. On that date, the was 9,100 rupiah for 1 U.S. dollar. Make the journal entries necessary on
(1) November 6,
(2) December 31, and
(3) March 23. The company uses a perpetual inventory system.

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...