White Perfect Berhad, a Malaysian listed company, has regular acquisitions of silver from a Japanese supplier. Therefore, White Perfect Berhad designates a future purchase of silver as a hedged item in a cash flow hedge. On 1 January 2017, White Perfect Berhad purchased the silver. On the same date, a cumulative gain on the hedging instrument of RM6 million had been credited to other comprehensive income. At the year end of 31 December 2017, the carrying amount of the silver was RM16 million and its net realizable value was RM12 million. The silver was finally sold on 31 March 2018 for RM12.4 million. Required: Show how White Perfect Berhad should recognize and measure the cash flow hedge for the year 2017 and 2018. White Perfect Berhad, a Malaysian listed company, has regular acquisitions of silver from a Japanese supplier. Therefore, White Perfect Berhad designates a future purchase of silver as a hedged item in a cash flow hedge. On 1 January 2017, White Perfect Berhad purchased the silver. On the same date, a cumulative gain on the hedging instrument of RM6 million had been credited to other comprehensive income. At the year end of 31 December 2017, the carrying amount of the silver was RM16 million and its net realizable value was RM12 million. The silver was finally sold on 31 March 2018 for RM12.4 million. Required: Show how White Perfect Berhad should recognize and measure the cash flow hedge for the year 2017 and 2018