Solution-What was the net amount paid for this inventory by

What was the net amount paid for this inventory by Cherr

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Question - On 11/1/X7 Cherr takes delivery of merchandise costing €1,000.Payment will be made on 2/28/X8. Cherr enters a forward purchase contract to buy €1,000 on February 28, 20X8.

Spot rates: 11/1/X7 $1.50/€ ; 12/31/X7 $1.53/€ ; 2/28/X8 $1.55/€.

Forward rates for Feb 28 delivery: 11/1/X7 $1.52/€ ; 12/31/X7 $1.54/€ ; 2/28/18 $1.55/€.

What was the net amount paid for this inventory by Cherr?

a. $1,550

b. $1,500

c. $1,530

d. $1,540

e. $1,520

Reference no: EM132619364

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What was the net amount paid for this inventory by Cherr

Reference no: EM132619364

Reference no: EM132619364

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