accounting-wk Company sold inventory to United Ltd., an English subsidiary
QUESTION
wk Company sold inventory to United Ltd., an English subsidiary. The goods cost Hawk $8,000 and were sold to United for $12,000 on November 27, payable in British pounds. The goods are still on hand at the end of the year on December 31. The British pound (£) is the functional currency of the English subsidiary. The exchange rates follow
ANSWER:
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