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What amount of loss should levin report

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Question - Levin Company entered into a forward contract to speculate in the foreign currency. It sold 100,000 foreign currency units under a contract dated November 1, 2008, for delivery on January 31, 2009:

11/1/2008

12/31/2008

Spot rates

$0.035

$0.037

30-day forward rate

$0.034

$0.036

90-day forward rate

$0.033

$0.035

In its income statement for the year ended December 31, 2008, what amount of loss should Levin report from this forward contract?

A. $0

B. $300

C. $200

D. $100

Reference no: EM132083988

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