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QUESTION 99 Exchange Rate per $ * 75 Goods purchased on 1.1.2017 for US$ 15,000 Exchange rate on 31.3.2017 Date of actual payment 7.7.2017 *74

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QUESTION 99 Exchange Rate per $ * 75 Goods purchased on 1.1.2017 for US$ 15,000 Exchange rate on 31.3.2017 Date of actual payment 7.7.2017 *74 * 73 You are required to ascertain the loss/gain for financial years 2016-17 and 2017 - 18, also give their treatment as per AS 11

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