Business, 16.04.2021 03:10 IsoSaysHi

Spindler, Inc. (a U. S.-based company), imports surfboards from a supplier in Brazil and sells them in the United States. Purchases are denominated in terms of the Brazilian real (BRL). During 2020, Spindler acquires 350 surfboards at a price of BRL 1,600 per surfboard, for a total of BRL 560,000.00. Spindler will pay for the surfboards when it sells them. Relevant exchange rates are as follows: Date U. S. Dollar per Brazilian Real (BRL) September 1, 2020 $ 0.240 December 1, 2020 0.230 December 31, 2020 0.250 March 1, 2021 0.235 Assume that Spindler acquired the surfboards on September 1, 2020, and made payment on December 1, 2020. What is the effect of the exchange rate fluctuations on reported income in 2020

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Spindler, Inc. (a U. S.-based company), imports surfboards from a supplier in Brazil and sells them...