Voltac Corporation (a U.S. company located in Charlotte, North Carolina) has the following import/export transactions denominated in Mexican pesos in 2017:

March 1	Bought inventory costing 120,000 pesos on credit.
May 1	Sold 70 percent of the inventory for 100,000 pesos on credit.
August 1	Collected 80,000 pesos from customers.
September 1	Paid 70,000 pesos to suppliers.

Currency exchange rates for 1 peso for 2017 are as follows:

March 1	$	0.18
May 1		0.19
August 1		0.20
September 1		0.21
December 31		0.22

Assume that all receipts were converted into dollars as soon as they were received.

For each of the following accounts, how much will Voltac report on its 2017 financial statements?

a	Inventory	$6,480selected answer correct
b	Cost of goods sold	?
c	Sales	$19,000selected answer correct
d	Accounts receivable	?
e	Accounts payable	$11000
f	Cash	?