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pplease show label On January 1, 2021, Fandu Corp. began operations of a foreign subsidiary. On April 1, 2021, the subsidiary purchased inventory costing 150,000
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On January 1, 2021, Fandu Corp. began operations of a foreign subsidiary. On April 1, 2021, the subsidiary purchased inventory costing 150,000 stickles. One-fourth of this inventory remained unsold at the end of 2021 while 40% of the liability from the purchase had not yet been paid. The pertinent indirect exchange rates were: January 1, 2021 April 1, 2021 Average for 2021 December 31, 2021 $1 = $ 3.0 $1 = $ 3.4 $1 = $ 3.2 $1 = $ 3.6 Required: What should have been the December 31, 2021 inventory and accounts payable balances for this foreign subsidiary as translated into U.S. dollars? (Round your answers to the nearest whole dollar.)Step by Step Solution
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