Clarke Corporation subsidiary buys marketable equity securities and inventory on April 1, 2017, for 100,000 won each. It pays for both items on June 1, 2017, and they are still

Clarke Corporation subsidiary buys marketable equity securities and inventory on April 1, 2017, for 100,000 won each. It pays for both items on June 1, 2017, and they are still on hand at year-end. Inventory is carried at cost under the lower-of-cost-or-net realizable rule. Currency exchange January 1, 2017 . . . . . $0.15 = 1 won April 1, 2017 . . . . . . . . . 0.16 = 1 June 1, 2017 . . . . . . . . . 0.17 = 1 December 31, 2017 . . . 0.19 = 1 Assume that the U.S. dollar is the subsidiary’s functional currency. balances does a consolidated balance sheet report as of December 31, 2017? Choose the correct. a. Marketable equity securities = $16,000 and Inventory = $16,000. b. Marketable equity securities = $17,000 and Inventory = $17,000. c. Marketable equity securities = $19,000 and Inventory = $16,000. d. Marketable equity securities = $19,000 and Inventory = $19,000.

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