1 yard^2 = 0.8361m^2.?
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So he spent (.625 x 400) = $250.00 per m^2.
He paid out (500 x 250) = $125,000 on the deal.
He received (500 / 0.8361) = 598.014592 yard^2 of fabric.
That would have cost (598.014592 x 120) = $71,761.75 locally.
He lost (125,000 - 71,761.75) = $53,238.25 on the deal.
You can rework with the incorrect conversion factor.
