Facts:

A U.S. company's foreign subsidiary had these amounts in "Tribles" in 2020:

Cost of Goods Sold5,000,000 Tribles

Beginning Inventory500,000 Tribles

Ending Inventory600,000 Tribles

The average exchange rate during 2020 was $1.00 = 1 Trible. The beginning inventory was acquired when the exchange rate was $.80 = 1 Trible. Ending inventory was acquired when the exchange rate was $1.10 = 1 Trible. The exchange rate at December 31, 2020 was $1.15 = 1 Trible.

1.If the subsidiary's functional currency is the U.S. dollar, what total should the balance sheet include for marketable equity securities at December 31, 2020?

2.If the subsidiary's functional currency is the U.S. dollar, what balance does the consolidated balance sheet report for inventory at December 31, 2020?

3.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?