U.S. Company purchases from Japanese Company for 60 million yen when the exchange rate is $.009, U.S. Company makes payment a day when the exchange rate is .0085. When recording the journal entry for payment the U.S. Company will report; a. Cash debit $540,000 b. Cash credit $540,000 c. Loss $30,000 d. Gain $30,000 Cypress Corp. uses dollar-value LIFO. Certain information follows: Compute the ending 2007 inventory. a. $5.742 b. $5.888 c. $5.866 d. $5.881