_____ On 11/4/06, a domestic exporter sold inventory to a Spanish firm for 100,000 euros. On that date, the direct exchange rate was $.70. At 12/31/06, the direct exchange rate was $.67. On 1/7/07, when the direct exchange rate was $.71, the domestic exporter received full payment of 100,000 euros. In the exporter's 2006 financial statements, what should be reported as an FX gain or loss?

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The Answer of _____ On 11/4/06, a domestic exporter sold inventory to a Spanish firm for 100,000 euros. On that date, the direct exchange rate was $.70. At 12/31/06, the direct exchange rate was $.67. On 1/7/07, when the direct exchange rate was $.71, the domestic exporter received full payment of 100,000 euros. In the exporter's 2006 financial statements, what should be reported as an FX gain or loss?

_____ on 11/4/06, a Domestic Exporter Sold Inventory to a Spanish