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On November 1,208, Perry Co. purchased 100,000 FCU of inventory. Payment is due January 31,20x9....

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Accounting

On November 1,208, Perry Co. purchased 100,000 FCU of inventory. Payment is due January 31,20x9. In order to hedge the foreign purchase, Perry Co. also entered in to a forward contract on November 1,208 to purchase 100,000 FCU on January 31,20x9. Perry Co. has a December 31st year-end.
The spot rates during this period were as follows:
Date
November 1,208
December 15,20x8
December 31,208
January 31,209
Spot rate
$1.27C$=1FCU
$1.33CS=1FCU
$1.40CS=1FCU
$1.38C$=1FCU
Forward rates for settlement on January 31,209 during this period were as follows:
Date
November 1,20x8
December 15,20x 8
December 31,208
Forward rate
$1.30CS=1FCU
$1.35C$=1FCU
$1.43C$=1FCU
On December 31,20x8, at what value will the forward contract asset be recorded on Perry Co.'s balance sheet?
Round to the nearest dollar, no $ signs, negative signs, commas or periods.
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