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What value the receivable from French entity be reflected

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Question - Jonstone's functional currency (FC) is the GBP. They are consolidated in to a US SEC registrant with USD FC. On November 30, Jonstone sold a French entity 500,000 Euro of inventory. The receivable is outstanding as of December 31. The relevant spot rates are Nov 30 1EUR=0.8092GBP; Dec 31 1EUR=0.8174GBP; Nov 30 1USD=0.7712 EUR; Dec 31 1USD=0.7565EUR; Nov 30 1USD=0.6241GBP; Dec 31 1USD=0.6185GBP. In the consolidated financial statements of the US registrant, at approximately what value will the receivable from the French entity be reflected?

a. $408,700

b. $252,511

c. $252,781

d. $660,792

e. $648,293

Reference no: EM132619376

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