A parent Company in Kuwait that uses the KD has a foreign Subsidiary in Saudi Arabia that uses the Saudi Riyal its functional currency. The Subsidiary on 31/12/2019 had Merchandise Inventory that had a cost of Saudi Riyal 30,000 and a current market price of Saudi Riyal 26,000. It was reported in the statement of financial position using the lower of Cost or Market. The merchandise inventory was purchased on 1/10/2019

I KD= 15 Saudi Riyal on 1/10/2019

I KD= 18 Saudi Riyal on 31/12/2019

Weighted average exchange rate for 2019 is I KD= 12 Saudi Riyal

What is the translated figure for merchandise Inventory in Kuwaiti Dinars? (round to the nearest one)

Select one:

a. KD 1,444

b. KD 1,428

c. None of the answers is correct

d. KD 2,000

e. KD 2,600