Practice Question 7.4 Stranded Ltd is an Australian company that purchases inventory from Hammers pic, which is an English company. The following information is relevant to a recent acquisition of inventory for 300 000 pursuant to a contract with terms including FOB shipping. Date Event Exchange rate 11f0512020 Inventories shipped A$1 = 0.41 2306/2020 Inventories delivered #51 = 0.42 3W2020 End of reporting period A31 = 043 31MT12020 Cash payment of iii-300000 to Hammers ple A51 = 2039 Required Prepare the journal entries of Stranded Ltd that relate to the foreign currency purchase of inventories in accordance with AASB 121IIAS 21. How would your answer change if the inventories acquired had a net realisable value of 270 000 at 30 June 2020