About the spot exchange rate

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Reference no: EM13970908

(Spot exchange rate) Suppose 1 year ago, Miller Company had inventory in Britain valued at 1.5 million Swiss Francs. The exchange rate for dollars to Francs was 1 Franc = 1.15 dollars. Today, the exchange rate is one Swiss franc equals 1.06 U.S. dollars. The inventory in Switzerland is still valued at 1.5 million francs. What is the U.S. dollar gain or loss in inventory value as a result of the change in exchange rates? Enter a positive number for a gain and negative for a loss.

Reference no: EM13970908

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