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When the local currency of the foreign subsidiary is the functional currency, a foreign subsidiary's inventory carried at cost would be converted to U.S. dollars by:

A. translation using historical exchange rates.

B. remeasurement using historical exchange rates.

C. remeasurement using the current exchange rate.

D. translation using the current exchange rate.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9438374

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