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Unformatted text preview: Average for 2011 0.20 = 1 What amount does Salisburys consolidated balance sheet report for this inventory at December 31. Ans. As the IFRS and US GAAP, the monetary items, in this case the inventory will be valued at closing rate i.e. $0.17 = SWK 1 as on December 31, 2010. Thus, the value of the inventory as on December 31, 2010 in Salisburys consolidated balance sheet is SWK 100,000 x $0.17 = $17,000.00...
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This note was uploaded on 02/21/2012 for the course ACT 492 taught by Professor Ngo during the Fall '11 term at Colorado.
- Fall '11