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Sorocaba Company is in a highly-inflationary country and prepares financial statements on a general purchasing power (inflation-adjusted) basis through reference to changes in the general

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Sorocaba Company is in a highly-inflationary country and prepares financial statements on a general purchasing power (inflation-adjusted) basis through reference to changes in the general price index (GPI). The company had the following transactions involving purchasing inventory in its first two years of operations: Determine the amount that would be reported as inventory in balance sheet on 12/31/11 and 12/31/2 after adjusting for inflation

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