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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
Posted: Wed Mar 30, 2022 3:44 pm
by answerhappygod
- 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 59 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)