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On November 1 , 2 0 1 7 , United States Company sold inventory to a foreign customer. The account will be settled on March

On November 1,2017, United States Company sold inventory to a foreign customer. The account will be settled on March 1 with the receipt of 200,000 foreign currency units (FCU). On November 1, United States Company also entered into a forward contract to hedge the exposed asset. The forward rate is $0.80 per unit of foreign currency. United States Company has a December 31 fiscal year-end. Spot rates on relevant dates were:
\table[[Date,Per Unit of Foreign Currency],[November 1,$0.83
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