A U.S. company's foreign subsidiary had these amounts in local currency units (LCU) in 2017:

Cost of goods sold LCU 5,130,000

Beginning inventory 526,000

Ending inventory 609,000

The average exchange rate during 2017 was $1.20 = LCU 1. The beginning inventory was acquired when the exchange rate was $1.00 = LCU 1. Ending inventory was acquired when the exchange rate was $1.30 = LCU 1. The exchange rate at December 31, 2017, was $1.35 = LCU 1. Assuming that the foreign country is highly inflationary, at what amount should the foreign subsidiary's cost of goods sold be reflected in the U.S. dollar income statement?