A U$.$S$.$ company's foreign subsidiary had these amounts in local currency units $($LCU$)$ in $2020$:

The average exchange rate during $2020$ was $$1\mathrm{.}80=$ LCU $1.$ The beginning inventory was acquired when the

exchange rate was $$1\mathrm{.}60=$LCU$1.$ Ending inventory was acquired when the exchange rate was $$1\mathrm{.}90=$LCU$1.$ The

exchange rate at December $31,2020,$ was $$1\mathrm{.}95=$ LCU $1.$ Assuming that the foreign country is highly inflationary, at

what amount should the foreign subsidlary's cost of goods sold be reflected in the U$.$S$.$ dollar income statement?

Multiple Choice

$$10,007,700$

$$5,650,000$

$$11,017\mathrm{.}500$

$$9,202,900$