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Find the foreign exchange gain or loss recorded by william

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Problem - On 1 January 201X, William Ltd, an Australian company, orders inventory from a US supplier. The purchase price is US$500 000 and the William Ltd pays in US$s. William Ltd receives the goods on 1 February 201X, and payment is made on 31 July 201X. William Ltd has a 30 June balance date. Spot exchange rates are: 1 January 201X A$1 = US$ 0.80 1 February 201X A$1 = US$ 0.85 30 June 201X A$1 = US$ 0.75. Find the foreign exchange gain or loss recorded by William Ltd at 30 June 201X?

a) $73,750 loss

b) $78,036 loss

c) $78,431 loss

d) $74,286 gain

e) $zero

Reference no: EM132452829

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