Foreign Exchange Gain or Loss

This video shows how to calculate the gain or loss on a foreign currency transaction.  A foreign currency gain or loss could occur on an export sale or an import purchase.  For example, if a U.S. firm sold inventory to a Japanese firm, and the Japanese firm promised to pay in Japanese yen at some point after the sale, the U.S. firm could recognize a gain or a loss if the exchange rate for converting Japanese yen to U.S. dollars changes between the date the inventory is sold and the date the money is collected.—
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