Clark Co., a U.S. corporation, sold inventory on December 1, 2021, with payment of 12,000 British pounds to be received in sixty days. The pertinent exchange rates were as follows:

Dec. 1	Spot rate:	$	1.831
Dec. 31	Spot rate:	$	1.976
Jan. 30	Spot rate:	$	1.768

What amount of foreign exchange gain or loss should be recorded on December 31?

Multiple Choice

• $756 gain.

• $756 loss.

• $0.

• $1,740 loss.

• $1,740 gain.