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A company has an account payable to a US.company, a supplier of inventory in the amount of US$250,000. The payable was incurred when the exchange

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A company has an account payable to a US.company, a supplier of inventory in the amount of US$250,000. The payable was incurred when the exchange rate was US$1=Cdn$0.82 At year-end, the rate is $0.79 Required: What amount of inventory is recorded? 2. What amount of exchange gain or loss Will the company report for the year

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