On 1 May 2011, Joseph Ltd acquires inventory from a supplier in Britain. The cost of the goods is 200,000. The amount has been paid at period end, 30 June 2011. The exchange rates are as follows:

1 May 2011 $A 1.00 = 0.50 30 June 2011 $A 1.00 = 0.46

Joseph Ltd uses a perpetual inventory system

Required Record the journal entries for each date (rounded to the nearest whole $A). Narrations are not required.