Hedged Forecasted Purchase

Constellation Brands, a U$.$S$.$ company, purchases merchandise from a German supplier on a regular basis. On April $1,2016,$ Constellation purchased $10,500$ for delivery on June $30,2016,$ in anticipation of an expected purchase of merchandise for $10,500$ at the end of June. The forward contract was a qualified hedge of a forecasted transaction. Constellation took delivery of the merchandise, settled the forward contract, and paid the German supplier $10,500$ on June $30,2016.$ The merchandise was subsequently sold in the U$.$S$.$ on July $12,2016,$ for $$14,250$ in cash. Relevant exchange rates $(\frac{\text{\$}}{})$ are as follows:

$\backslash$table$[[,$Spot rate,$\backslash$table$[[$Forward rate for delivery$],[$June $30,2016]]],[$April $1,2016,$$$1\mathrm{.}32,$$$1\mathrm{.}30$