On July 1, 2020, CANCO purchased inventory from its main US supplier, RNB Enterprises, at a cost of US$12,000 CANCO's year end is on July 31. Payment of US$12,000 for the inventory is due on August 31, 2020, Some important dates regarding this transaction, as well as the exchange rates in effect at each of these dates are shown below. Transaction date: July 1, 2020 Year end: July 31, 2020 Settlement date: August 31, 2020 1US Dollar CDN$1.370 1 US Dollar CDN$1,345 1US Dollar CDN$1.325 What would be the amount of the foreign exchange gain or loss recorded for the year end, July 31, 2020? Multiple Choice A CDN$300 exchange loss. A CDN$540 exchange gain. A CON$300 exchange gain. NII. Any exchange gain or loss is deferred until settlement