Kline Inc. purchases goods for 5,000 pounds on October 31, Year 1. The company pays for the goods three months later. The exchange rates are as follows: Date Exchange Rate Oct. 31, Yr. 1 $0.63 Dec. 31, Yr. 1 $0.75 Jan. 31, Yr. 2 $0.63 As a result of the movements in the exchange rates shown above, Kline will book: OA gain on January 31, Year 2. A loss on January 31, Year 2. 00 No gain or loss on December 31, Year 1. No gain or loss on January 31, Year 2.