A year ago, Manchester Company had inventory in Britain valued at 256,000 pounds. The exchange rate for dollars to pound

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A year ago, Manchester Company had inventory in Britain valued at 256,000 pounds. The exchange rate for dollars to pound

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A Year Ago Manchester Company Had Inventory In Britain Valued At 256 000 Pounds The Exchange Rate For Dollars To Pound 1
A Year Ago Manchester Company Had Inventory In Britain Valued At 256 000 Pounds The Exchange Rate For Dollars To Pound 1 (20.21 KiB) Viewed 57 times
A year ago, Manchester Company had inventory in Britain valued at 256,000 pounds. The exchange rate for dollars to pounds was 1£ = 1.96 U.S. dollars. This year the exchange rate is 1£ = 1.88 U.S. dollars. The inventory in Britain is still valued at 256,000 pounds. What is the gain or loss in inventory value in U.S. dollars because of the change in exchange rates? (2 point)
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