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2 On 01/05/2022 Pixie Ltd. purchases inventories from a US based supplier, and accepts control over the goods on 14/05/2022. The invoice is for
2 On 01/05/2022 Pixie Ltd. purchases inventories from a US based supplier, and accepts control over the goods on 14/05/2022. The invoice is for 25.000 USD and needs to be paid on 31/07/2022. Pixie is registered in Sydney and has the Australian dollar as functional currency, its financial year ends on 30/06/2022. Find an extract of recent exchange rate below. AUD USD 1/05/2022 $1.00 $0.69 14/05/2022 $1.00 $0.70 30/05/2022 $1.00 $0.77 15/06/2022 $1.00 $0.71 30/06/2022 $1.00 $0.68 15/07/2022 $1.00 $0.69 31/07/2022 $1.00 $0.67 15/08/2022 $1.00 $0.73 31/08/2022 $1.00 $0.67 Pixie pays the invoice on 31/07/2022. At that point they record a: O Loss on forex of $548.73 O Loss on forex of $1,599.15 O Gain on forex of $250.00 Gain on forex of $750.00 O None of the other options
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