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March 1 Voltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: Bought inventory costing 124,000 pesos on credit.

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March 1 Voltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: Bought inventory costing 124,000 pesos on credit. May 1 Sold 80 percent of the inventory for 104,000 pesos on credit. August 1 Collected 82,000 pesos from customers. September 1 Paid 72,000 pesos to suppliers. Currency exchange rates for 1 peso for 2020 are as follows: Date March 1 May 1 August 1 September 1 December 31 U.S. Dollar per Peso $ 0.22 0.23 0.24 0.25 0.26 Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, what amount will Voltac report on its 2020 financial statements? a Inventory b Cost of goods sold C Sales d Accounts receivable Accounts payable If Cash e

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