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You purchased inventory from Switzerland for 150,000 CF at Nov 3 when the exchange rate was $.35 to 1 CF. The spot rates at Nov.
You purchased inventory from Switzerland for 150,000 CF at Nov 3 when the exchange rate was $.35 to 1 CF. The spot rates at Nov. 30 and Dec. 31 are $.38 to 1 CF and $.33 to 1 CF, respectively. What are the entries at 11/3, 11/30 and 12/31?
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