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For the current year, a Japanese subsidiary reported a beginning inventory (FIFO) of 80,000 yen, purchases of 600,000 yen and an ending inventory (FIFO) of
For the current year, a Japanese subsidiary reported a beginning inventory (FIFO) of 80,000 yen, purchases of 600,000 yen and an ending inventory (FIFO) of 50,000 yen. The exchange rate for the Japanese yen was P0.4325 on January 1 and P0.4854 on December 31. The average rate for the year was P0.4745. What is the cost of goods sold in Philippine peso
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