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What is foreign exchange loss on this series of transactions

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Question - On September 1, Year 1, Canuck Corporation submitted a US$100,000 purchase order for equipment when the exchange rate was US$1 = C$1.161. On October 31, Year 1, it received the equipment, when the exchange rate was C$1.169. On December 1, Year 1 it paid US$50,000 to the supplier, when the exchange rate was C$1.176. On December 31, Year 1, the exchange rate was C$1.180. What is the foreign exchange loss on this series of transactions for the year ended December 31, Year 1?

Reference no: EM133092820

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