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The Trial Balance of the Paris Branch of Cisalpine Company on Dec 31, 200X is presented below: Balance in Euros Cash 300,000 Inventory 120,000 Common
The Trial Balance of the Paris Branch of Cisalpine Company on Dec 31, 200X is presented below: Balance in Euros Cash 300,000 Inventory 120,000 Common Stock (400,000) Retained Earnings ( 7,000) Sales (120,000) Cost of Goods Sold 85,000 Operating expenses 22,000 Conversion rates: Current One Euro = $1.08 Average One Euro = $1.07 Historic One Euro = $1.06 US Dollars are the functional and reporting currency. Complete the remeasurement of the Paris Branch to US dollars (the functional currency) on December 31, 200X
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