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Company F is a foreign subsidiary of a domestic company and Company F's functional currency is the Euro. On Company F's financials at the end
Company F is a foreign subsidiary of a domestic company and Company F's functional currency is the Euro. On Company F's financials at the end of the year 2018, they reported 200,000 in cost of goods sold. If the spot rate on 1/1/18 was 1- $1.12, the spot rate on 12/31/18 was 1 $1.18, and the weighted average rate for the full year 2018 was 1 = $1.02, how much is the translated balance of cost of goods sold in U.S. $ at year-end? a) $236,000 b) $204,000 c) $200,000 d) $224,000
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