Brisco Bricks purchases raw material from its foreign supplier, Bolivian Clay, on May 8. Payment of 2,000,000 foreign currency units (FC) is due in 30 days. May 31 is Brisco's fiscal year-end. The pertinent exchange rates were as follows:
A.
y 8 Spot rate $1.25
B.
y 31 Spot rate $1.26
C.
ne 7 Spot rate $1.20
D.
w much Foreign Exchange Gain or Loss should Brisco record on May 31?