Round to the nearest 1

A Kuwaiti -based company that uses KD has a Subsidiary Mazaya PLC that is located in Saudi Arabia The functional currency of this subsidiary (Mazaya) is the Kuwaiti Dinar. The subsidiary purchases inventory on October 31 2010 for 290,000 Saudi Riyal which is sold on January 15 of 2011 for 340,000 Saudi Riyal. Collection of the money takes place on February 4 of 2011. The inventory was valued at lower of cost or market on December 31 2010 where the market value was 300,000 Saudi Riyals. Applicable exchange rates are as follows:

October 31/2010- 1 KD= 10 Saudi Riyal

December 31/2010- 1 KD= 12 Saudi Riyal

January 15/2011- 1 KD= 13 Saudi Riyal

February 4/2011- 1 KD= 14 Saudi Riyal

What is the translated figure of ending inventory on 31 December 2010 in the balance sheet in Kuwaiti Dinar is?

Select one:

a. KD 30,000

b. KD 29,000

c. KD 25,000

d. KD 33,333

e. None of the answers is correct