What is the gain or loss in inventory value in us dollars, Financial Management

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What is the gain or loss in inventory value in us dollars

Suppose Mignon Inc. had inventory in London valued at 240,000 pounds one year ago. The exchange rate for dollars to pounds was1£ = 2 U.S. dollars. This year the exchange rate is 1£ = 2.18 U.S. dollars. The inventory in Britain is still valued at 240,000 pounds. What is the gain or loss in inventory value in U.S. dollars as a result of the change in exchange rates?

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Financial Management: What is the gain or loss in inventory value in us dollars

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