Certain balance sheet accounts of a foreign subsidiary of the Tulip Co. had been stated in U.S. dollars as follows: Current Rates Historical Rates Receivables current Recelvables - noncurrent Prepaid Insurance Goodwill Totals $280,000 140,000 70,000 112,000 $602,000 $308,000 154,000 77,000 119,000 $658,000 If the U.S. dollar is the functional currency of this subsidiary, what total amount should be included in Tulip's balance sheet in U.S. dollars? A subsidiary of Salisbury, Inc., is tocated in a foreign country whose functional currency is the schweikart (SWK). The subsidiary acquires inventory on credit on November 1, 2008, for SWK 100,000 that is sold on January 17, 2009, for SWK 130,000. The subsidiary pays for the inventory on January 31, 2009. Currency exchange rates for 1 SWK are as follows: November 1, 2008 $0.16 1 SWK December 31, 2008 January 17, 2009 January 31, 2009 Average for 2009 0.17 1 0.18 1 0.19 1 0.20 1 rt fo What amount does Salisbury's consolidated balance shee epor or this inventony on Decsembe 31. 2008? ities (reported at fair market value an h l nays for bot