Hyperinflation

CFA Level II FRA
#1

EDIT: Problem solved. Current method does not split monetary/non-monetary.

Schweser says that under IFRS and hyperinflation, we should adjust financial statements and then translate using the current METHOD

CFAI says we should adjust and then translate using the current EXCHANGE RATE.

In CFAI reading 18, question 1: “If Ukraine’s economy becomes highly inflationary, Eurexim will most likely translate inventory by:”

The answer is “restating for inflation and using the current exchange rate”. Since inventory is non-monetary, shouldnt we restate and then use the historical exchange rate under the current method?

#2

Still there is a difference, eg. for an I/S item. Under current rate method you translate with average exch. rate, while when restating for inflation you multiply by the inflation rate (or with the change in the price index, i.e. ending price index/average price index) and then multiply with the current exchange rate. That was my understanding.