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tion 11 at answered A US-based company that uses USD has a Subsidiary Harris pic that is located in Germany. The functional currency of this

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tion 11 at answered A US-based company that uses USD has a Subsidiary Harris pic that is located in Germany. The functional currency of this subsidiary (Harris) is the Euro used in Germany. The subsidiary purchases inventory on October 31 2010 for 300,000 which is sold on January 15 of 2011 for 340,000 . Collection of the money takes place on February 4 of 2011. Applicable exchange rates are as follows: d out of 1.00 ag question October 31/2010- 1 Euro= 1.210 USD December 31/2010- 1 Euro= 1.260 USD January 15/2011 - 1 Euro= 1.300 USD February 4/2011- 1 Euro= 1.310 USD What is the translated figure of ending inventory on 31 December 2010 in the balance sheet in USD is? Select one: a. $428,400 b. $393,000 c. None of the answers is correct d. $378,000 e. $390,000

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