Examlex
Suppose 1 year ago Hein Company had inventory in Britain valued at 240,000 pounds.The exchange rate for dollars to pounds was £1 = 2 Canadian dollars.This year,the exchange rate is £1 = 1.82 Canadian dollars.The inventory in Britain is still valued at 240,000 pounds.What is the gain or loss in inventory value in Canadian dollars as a result of the change in exchange rates?
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