A US. company's foreign subsidiary had these amounts in local currency units (LCU) in 2021:

Cost of Goods Sold	LCU 5,800,000
Beginning Inventory	LCU 505,000
Ending Inventiry	LCU 613,000

The average exchange rate during 2021 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, 2021, 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?

Choices:

$7,830,000

$5,800,000

$6,292,700

$6,797,700