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 112,000 pesos on credit. May 1 Sold 80 percent of the inventory for 92,000 pesos on credit. August 1 Collected 76,000 pesos from customers. September 1 Paid 66,000 pesos to suppliers.

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

March 1 $ 0.21 May 1 0.22 August 1 0.23 September 1 0.24 December 31 0.25

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?

aInventory$

5,600selected answer incorrect

bCost of goods sold$

19,712selected answer incorrect

cSales$

20,240selected answer correct

dAccounts receivable$

5,520selected answer incorrect

eAccounts payable$

12,160selected answer incorrect

fCash$

1,640