Question
1. Garlic contract: DELIVERY OF KEJORA FRESH SIBERIAN HARDNECK GARLIC BULB 4800 COUNT TO OLIVE MILL ARIZONA AT $.27 PER BULB DISCOUNT due: first week
1. Garlic contract: DELIVERY OF KEJORA FRESH SIBERIAN HARDNECK GARLIC BULB 4800 COUNT TO OLIVE MILL ARIZONA AT $.27 PER BULB DISCOUNT
due: first week of March 2022
-Chicago Board of Trade imposes +/-10 cents per bulb price (movement) limit; initial margin of $700; maintenance margin of 450.
-March garlic contract sells at $2.47/bulb when you purchased a contract. Subsequent events follow:
---price of garlic futures falls to 2.44/bulb
---price of garlic futures falls further to 2.40/bulb
---price of garlic futures falls further to 2.38/bulb
---price of garlic futures rises to 2.44/bulb
how much is your overall gain (loss)?
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Intermediate Accounting 2007 FASB Update Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
12th Edition
0470128763, 978-0470128763
