Answer:
the cumulative mark to market is -$72,000
Explanation:
The computation of the cumulative mark to market is shown below:
Mark to market is
= (selling price - ending price) × ounces per contract × number of contracts
= ($1,690 per ounces - $1,770 per ounces) × 100 punces × 9
= -$72,000
hence, the cumulative mark to market is -$72,000
We simply applied the above formula so that the correct value could come
And, the same is to be considered
