Wild, Inc. sold merchandise for 500,000 FC to a foreign vendor on November 30, 20X5. Payment in foreign currency is due January 31, 20X6. Exchange rates to purchase 1 foreign currency unit are as follows: In the year in which the sale was made, 20X5, what amount should Wild report as foreign exchange gain/loss from this transaction?

Question

Wild, Inc. sold merchandise for 500,000 FC to a foreign vendor on November 30, 20X5. Payment in foreign currency is due January 31, 20X6. Exchange rates to purchase 1 foreign currency unit are as follows:  In the year in which the sale was made, 20X5, what amount should Wild report as foreign exchange gain/loss from this transaction?

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The Answer of Wild, Inc. sold merchandise for 500,000 FC to a foreign vendor on November 30, 20X5. Payment in foreign currency is due January 31, 20X6. Exchange rates to purchase 1 foreign currency unit are as follows:  In the year in which the sale was made, 20X5, what amount should Wild report as foreign exchange gain/loss from this transaction?

Wild, Inc Sold Merchandise for 500,000 FC to a Foreign Vendor