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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

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 100,000 pesos on credit.
May 1 Sold 60 percent of the inventory for 80,000 pesos on credit.
August 1 Collected 70,000 pesos from customers.
September 1 Paid 60,000 pesos to suppliers.

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

March 1 $0.10
May 1 0.12
August 1 0.13
September 1 0.14
December 31 0.15

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

a.Inventory.

b.Cost of Goods Sold.

c.Sales.

d.Accounts Receivable.

e.Accounts Payable.

f.Cash.

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