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At what amount should monument company capitalize machine

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Reference no: EM133186111

Question - Monument Company (a U.S.-based company) ordered a machine costing €150,000 from a foreign supplier on January 15, when the spot rate was $1.10 per €. A one-month forward contract was signed on that date to purchase €150,000 at a forward rate of $1.12. The forward contract is properly designated as a fair value hedge of the €150,000 firm commitment. On February 15, when the company receives the machine, the spot rate is $1.11. At what amount should Monument Company capitalize the machine on its books?

Reference no: EM133186111

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