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1 October 2010- Inventory costing 50.000 USD purchased on credit from Y 1 November 2010- Equipment costing 200,000 USD purchased on credit from X and
1 October 2010- Inventory costing 50.000 USD purchased on credit from Y 1 November 2010- Equipment costing 200,000 USD purchased on credit from X and signed a note payable 30 November 2010-Paid Y 30,000 USD on account for the inventory bought on 1 October 15 December 2010- Paid X 150,000 USD for the equipment purchased on 1 November Exchange rates may be assumed as follows: 1 October 2010-1 KD= 1.2 USD 1 November 2010- 1 KD = 1.12 USD 30 November 2010- 1 KD= 1.0 USD 15 December 2010- 1 KD= 0.96 USD 31 December 2010-1 KD = 0.88 USD Select one: a. Exchange Loss KD 45,557 b. Exchange Loss KD 43,753 O C. Exchange Gain KD 12,999 d. Exchange Gain KD 45,912
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