A Subsidiary of Porter Inc. a U.S. company is located in France. The functional currency of this subsidiary is the dollar. The subsidiary acquired inventory on credit on November 1, 2020 for 200,000 Euro. The inventory was sold on January 17, 2021 for E250,000, the subsidiary paid for the inventory on January 31, 2021. Currency exchange rates between the dollar and the Euro were as follow November 1, 2020 E1-1.32 December 31, 2020 El 1.30 January 17, 2021 EI-121 December 31, 2020 E1-1.15 The inventory balance for this inventory in Porter's consolidated balance sheet at December 31, 2020 was