Question
On April 10, 2022, when the spot rate is $1.20/, a U.S. company sells merchandise to a customer in Italy at a price of 100,000.
On April 10, 2022, when the spot rate is $1.20/, a U.S. company sells merchandise to a customer in Italy at a price of 100,000. The spot rate is $1.21/ on June 30, the companys year-end. Payment, in euros, is received on August 10, 2022, when the spot rate is $1.18/.
What amount does the company report as sales revenue in fiscal 2022?
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Trust Me Im Almost An Auditor
Authors: Lily Hazelwood
1st Edition
1791960405, 978-1791960407
