Acme Corporation (a U.S. company located in Sarasota, Florida) has the following import/export transactions in 2015: March 1 Bought inventory costing 67,000 pesos on credit. May 1 Sold 70 percent of the inventory for 62,000 pesos on credit. August 1 Collected 48,500 pesos from customers. September 1 Paid 38,500 pesos to creditors.

Currency exchange rates for 1 peso for 2015 are as follows:

March 1 $ 0.15

May 1 $ 0.16

August 1 $ 0.17

September 1 $ 0.18

December 31 $0.19

Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, how much will Acme report on its 2015 financial statements?

Inventory

COGS

Sales

Account Receivable

Accounts Payable

Cash