Information for Questions 18 and 19 Senn Company is a subsid…
Information for Questions 18 and 19 Senn Company is a subsidiary of Penn Company and is located in Vietnam, where the currency is the Vietnamese dong. Data on Senn’s inventory and purchases are as follows. Data on Senn’s Inventory and Purchases Inventory and purchases Amount Currency Inventory, January 1, 20Y9 420,000 Dong Purchases during 20X9 1,150,000 Dong Inventory, December 31, 20X9 380,000 Dong The beginning inventory was acquired during the fourth quarter of 20Y8, and the ending inventory was acquired during the fourth quarter of 20Y9. Purchases were made evenly over the year. Exchange rates were as follows. Exchange Rates Date Currency Exchange rate Fourth quarter of 20Y8 1 Dong = $ 0.00150 January 1, 20Y9 1 Dong = $ 0.00155 Average during 20Y9 1 Dong = $ 0.00160 Fourth quarter of 20Y9 1 Dong = $ 0.00165 December 31, 20Y9 1 Dong = $ 0.00170
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