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Xenox plc manufactures quad bikes in the UK. The company reports in British pounds. Non-current assets purchased from foreign suppliers since incorporation have been as follows:
There have been no disposals and all tangible non-current assets are depreciated on a straight line basis over an estimated useful life of five years. Exchange rates are as follows (USD/GBP):
What will be the carrying value of Noxens Inc's tangible non-current assets to be included in the statement of financial position as at 31 December 20X7? A. £320,000. B. £240,000. C. £571,000. D. £600,000. E. £314,000. |