On September 15, Elephant Inc. ordered 125,000 in inventory from a supplier in France. The goods are scheduled to be delivered on October 15, and payment in full is due at that time. Elephant immediately entered into a forward contract to purchase 125,000 on the scheduled delivery date. The inventory was received, and payment made on October 15. Elephant's year end is September 30. Exchange rate information follows: Date Spot rate Forward rate for delivery on October 15 September 15 1 = C$1.4000 1 = C$1.3925 September 30 1 = C$1.3800 1 = C$1.3775 October 15 1 = C$1.3500 1 = C$1.3500 Assume that Elephant prepares its financial statements in accordance with IFRS and designates the forward contract as a cash flow hedge. Which of the following is the amount that will be recorded for the inventory? Question 12 options: a) $168,750 b) $174,063 c) $172,188 d) $175,000