Under the current rate method, inventory at net realizable value would be translated for the balance sheet at what rate?
A) Beginning of the year rate.
B) Average rate.
C) Current rate.
D) Historical rate.
E) Composite amount.

Question

Quizplus · Accepted Answer

Under the current rate method, all assets and liabilities, including inventory at net realizable value, are translated at the current exchange rate as of the balance sheet date.

Under the Current Rate Method, Inventory at Net Realizable Value