Which of the following statements is correct with respect to the translation of cost of sales in a foreign operation where the functional currency of the foreign operation is the same as the parent's functional currency?currency translation (PCT) method, which of the following statements is correct?

Multiple Choice

• a) Ending inventory is translated using an average rate.

• b) Ending inventory is translated using the rate in effect when the inventory was acquired.

• c) Opening inventory is translated using closing rates.

• d) Opening inventory is translated using an average rate.