12. Esposito is an Italian subsidiary of a U.S. company Esposito's ending inventory is valued at the average cost for the last quarter of the year. The following account balances are available for Esposito for 2011 Beginning inventory Purchases Ending inventory 20,000 400,000 15,000 Relevant exchange rates follow: 4th quarter average, 2010 December 31, 2010 Average 2011 4th quarter average, 2011 December 31, 2011 $.93= 1 94 = 1 96= 1 99 = 1 1.01-1 Compute the cost of goods sold for 2011 in US dollars using the current rate method. o $376,550 O $387,750 o $388,800 O $400,950 o $409,050