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Required Informetlon A foreign subsidiary uses the first-in first-out inventory method. The following inventory balances are given at December 31. 2018 in local currency units
Required Informetlon A foreign subsidiary uses the first-in first-out inventory method. The following inventory balances are given at December 31. 2018 in local currency units (LCU): Inventory at cost Inventory at net realizable value 328,88e LCU 428,888 LCU The following exchange rates are given for 2018: th 4quarter average, 2818 December 31,2818 $ 1.43= 1 LCU 1.42 1 LCU Compute the December 31, 2018, inventory balance using the current rate method Multiple Cholce $454.400 $457,600 $596,400. $419,000. $321,000
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