Bentley Biscuits

Question # 00002414 Posted By: mac123 Updated on: 10/17/2013 04:05 PM Due on: 10/19/2013
Subject Literary Studies Topic General Literary Studies Tutorials:
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Bentley Biscuits, a wholly-owned English subsidiary of U.S. Bakery (a U.S. firm) maintains its inventory at cost, and Bentley Biscuits’ books are reflected in British pound sterling. U.S. Bakery's functional currency is U.S. dollars. Determine the inventory value using both the temporal and current methods. Show how this will be reflected on Bentley Biscuits' statements and the consolidated statement of U.S. Bakery. Use the following information for this calculation: The historical cost of inventory is £500,000. The historical exchange rate is $0.550. The current exchange rate is $0.579.
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  1. Tutorial # 00002220 Posted By: mac123 Posted on: 10/17/2013 04:10 PM
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