Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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.

image text in transcribed
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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance For Musicians

Authors: Bobby Borg

1st Edition

1538163306, 978-1538163306

More Books

Students also viewed these Finance questions

Question

44. Show that ( ) ( ). Give an interpretation involving subsets.

Answered: 1 week ago

Question

Group Size and Communication

Answered: 1 week ago

Question

Understanding Group Roles

Answered: 1 week ago