The Clothing Company purchased six futures contracts on cott…

The Clothing Company purchased six futures contracts on cotton at a quoted price of 60.70 as a hedge against its inventory needs. At the time it actually needed the cotton, the spot price was 61.50. Cotton futures are based on 50,000 pounds and quoted in cents per pound. How much did the Shirt Factory save by hedging cotton? exam spreadsheet (8).xlsx

What is the amount of the difference between the highest and…

What is the amount of the difference between the highest and the lowest value of a December heating oil contract on this day? Contract Open High Low Close December, Heating oil, 40,000 gallons, $ and cents per gallons 3.5503 3.7444 3.6652 3.7222 December, Crude oil, 1,000 barrels, $ and cents per barrels 120.71 122.50 120.70 122.40 exam spreadsheet (8).xlsx