When remeasuring foreign currency financial statements into the functional currency, which of the following items would be remeasured using a historical exchange rate?

a. Inventories carried at cost.

b. Trading securities carried at market values.

c. Bonds payable.

d. Accrued liabilities.

Select the best answers under each of two alternative assumptions:

(a) the LCU is the functional currency and the translation method is appropriate or

(b) the U.S. dollar is the functional currency and the remeasurement method is appropriate.