Question: HELLO - I NEED HELP WITH THIS ADVANCED ACCOUNTING QUESTION. I PROVIDED THE A THRU D POSSIBLE ANSWERS. OUR BOOK IS 3RD EDITION, CAMBRIDGE

HELLO - I NEED HELP WITH THIS "ADVANCED ACCOUNTING" QUESTION. I PROVIDED THE " A THRU D" POSSIBLE ANSWERS. OUR BOOK IS 3RD EDITION, CAMBRIDGE BUSINESS PUBLISHERS. PLEASE PROVIDE THE FORMULA AND ANSWER.

A U.S. company expects to buy mel'Cbandise from a Canadian supplier for approximale1y C$1,000,000,in the middle of April. On November 15,2016,the company enters a forward contract lockingin the U.S. dollar pur- chase price of C$1,000,000,for delivery onApri11S, 2017. The forward qu.alifies asa hedge of the forecasted ttansaction. Delivery of the merebandisetakes place onApril15,2017, ami the forward contract is closed and payment is made to the supplier.At what amount illthe merchandise reported on delivery onApril15, 2017?

a.) 895,000 b.) 905,000 c.) 940,000 d.) 950,000

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