问题如下：
PZ company is a US-based company with US GAAP. PZ has two European subsidiaries: LI financial service and HE financial consultant. Felix, CFA, has prepared PZ’s forecasted financial statements in 2018:
Felix forcast LI financial service will report 3,500 in sales and 1,500 in cost of sales in 2018, If PZ chooses current rate method to translate LI's financial statements into US dollar and temporal method to translate HE's financial statements into US dollar. Both LI and HE use the FIFO method to account for inventory. compared with the gross margins the subsidiaries reported in local currency, PZ’s consolidated gross margin will most likely:
选项：
A.be distorted if HE using the current method
B.not be distorted
C.be distorted because of the translation and inventory accounting methods
解释：
C is correct.
考点：current rate method and temporal method
解析：
这一题问的是gross margin会被歪曲，而不是问gross margin一不一样
对于选项C，如果用temporal & FIFO的方法，那么收入和 COGS用的转换汇率就不一样，所以gross margin会被扭曲。
比如子公司货币下：收入为5，COGS=2，那么gross margin=3/5=60%，但如果用不同的汇率转换了，比如收入的转换汇率为7，COGS的转换汇率为6，那么gross margin=（5*7-2*6）/35=65.7%，无形之中就提高了它本来的gross margin，所以gross margin会被扭曲。
如果是B，用的是current method，sales和COGS用的汇率是一样的，所以不存在这个现象。
这个题问的是PZ’s consolidated gross margin most likely。。。pz个人理解的是包括li和he，并不会以单个子公司的角度去思考。读题的时候很难读懂。
