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Suppose one year ago, Hein Company had inventory in Britain valued at 240,000 pounds. The exchange rate for dollars to pounds was 1=2 U.S. dollars.
Suppose one year ago, Hein Company had inventory in Britain valued at 240,000 pounds. The exchange rate for dollars to pounds was 1=2 U.S. dollars. This year the exchange rate is 1=1.82 U.S. dollars. The inventory in Britain is still valued at 240,000 pounds. What is the U.S, dollar gain or loss in inventory value as a result of the change in exchange rates? $47,520,00 $57,499.20 552,272,00 $43,200.00 $38,880.00
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