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Idaho Limited reports the following items in US$: Opening stock 49,500 Closing stock 39,600 Purchases 462,000 Purchases were acquired evenly across the year. Closing stock

Idaho Limited reports the following items in US$:

  • Opening stock 49,500
  • Closing stock 39,600
  • Purchases 462,000

Purchases were acquired evenly across the year. Closing stock was acquired evenly over the month of June. The following exchange rates applied:

Start of the reporting period US$ 1.00 = AUD $1.78

End of reporting period US$ 1.00 = AUD $1.63

Average rate for year US$ 1.00 = AUD $1.73

Average rate for the month of June US$ 1.00 = AUD $1.66

Calculate the Inventory value for the balance sheet translated into the presentation currency of AUD:

Note: Do not enter $ symbols or commas in your answer; calculate to the nearest whole dollar

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