What amount will Coyote Corp. report in its 2018balance sheet for Inventory

What amount will Coyote Corp. report in its 2018balance sheet for Inventory?

Answer:

Inventory (60,000 pesos × $.20 × 40%): $ 4,800

Learning Objective: 09-02

Topic: Foreign currency transactions―Not hedged

Difficulty: 2 Medium 

Blooms: Apply

AACSB: Knowledge Application

AACSB: Diversity

AICPA: BB Global

AICPA: FN Measurement