alleryStart learning →Stock imported for USD 2,000 at Rs 75 is held at cost; year-end rate is Rs 80. Carrying amount?
ARs 1,60,000
BRs 1,55,000
CRs 1,65,000
DRs 1,50,000
Answer & Solution
Correct answer: D. Rs 1,50,000
Inventory at historical cost stays at the transaction date rate, so 2,000 times Rs 75 gives Rs 1,50,000 with no restatement.
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