On July 1, 2020, CANCO purchased twentory 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 danes are shown below transaction date: July 1, 2020 Year end: July 31, 2020 Settlement de August 31, 2020 TUS DOLCUNST US Dollar -CONS1345 1 US Dollar CDNS13Z What would be the amount of the foreign exchange gain or loss recorded at the settlement date