Let's suppose you (USA dealer) imported a product from German on Dec 1, 2018 at € 300, payable in 60 days. You sold the product in the US market at $400 in cash on Dec 15, 2018. The company's fiscal year ends on Dec 31. You paid to your German supplier on Feb 1, 2019. Below, please find the exchange rate information: Dec 1, 2018: 1.2 €/$. Dec 31, 2018: 1.5 €/$. Feb 1, 2019: 1.0 €/$. What was Gross Profit for 2018 and 2019, respectively? The answer is $150 (2018) and $0 (2019) here since the question is asking Gross Profit. If the question asks you Net Income, $200, -$100 would be the correct answer. Group of answer choices $150, $0 $200, -$100 $150, $20 $100, $0
Let's suppose you (USA dealer) imported a product from German on Dec 1, 2018 at € 300, payable in 60 days. You sold the product in the US market at $400 in cash on Dec 15, 2018. The company's fiscal year ends on Dec 31. You paid to your German supplier on Feb 1, 2019. Below, please find the exchange rate information: Dec 1, 2018: 1.2 €/$. Dec 31, 2018: 1.5 €/$. Feb 1, 2019: 1.0 €/$. What was Gross Profit for 2018 and 2019, respectively? The answer is $150 (2018) and $0 (2019) here since the question is asking Gross Profit. If the question asks you Net Income, $200, -$100 would be the correct answer. Group of answer choices $150, $0 $200, -$100 $150, $20 $100, $0
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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