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Thank you for joining the thread, schrappe.
Let me shed light on the cost of an item.
The Cost of Product/Service will always be based on your home currency, as your expenses are presented in reports in this manner. Therefore, no matter what currency your customer has, your cost will always be in CAD.
I can see that PatriciaT had already provided references for Multicurrency.
If you have additional questions, just reply below. Have a good one!