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A U.S. company's foreign subsidiary had the following amounts in stickles in 2011: Cost of goods sold section 10,000 The average exchange rate during 2011

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A U.S. company's foreign subsidiary had the following amounts in stickles in 2011: Cost of goods sold section 10,000 The average exchange rate during 2011 was section1 = $1.00 The beginning inventory was acquired when the exchange rate was section1 = $1.20. The ending inventory was acquired when the exchange rate was section1 = $.90. The exchange rate at December 31, 2011 was section1 = $.80. Assuming that the foreign country had a highly inflationary economy, at what amount should the foreign subsidiary's cost of goods sold have been reflected in the 2011 U.S. dollar income statement? A. $10, 108 B. $8,000 C. $10, 360 D. $11, 613

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