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Westmore Ltd. is a British subsidiary of a U.S. company. Westmore's functional currency is the pound sterling (). The following exchange rates were in effect
Westmore Ltd. is a British subsidiary of a U.S. company. Westmore's functional currency is the pound sterling (). The following exchange rates were in effect during 2018: Jan.1 1 = $1.60 June 30 1 = $1.64 Dec.31 1 = $1.61 Weighted average rate for the year 1 = $1.59 Westmore reported sales of 1,500,000 during 2018. What amount (rounded) would have been included for this subsidiary in calculating consolidated sales? MULTIPLE CHOICE a.$2,415,000 b.$2,400,000 c.$2,385,000 d.$943,396 e. $931,677
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