34_ Nyman Co purchased inventory on account for 1,000 Euros. The exchange rate on the date of purchases was $1.25 per Euro. By the date of payment, the exchange rate had risen to $1.30. How much gain or loss should be recorded on this set of transactions? 1.". $1,300 gain X. 550 gain Y. $50 loss 2. $1,3ooioss