Hug Company is a subsidiary of Corpuz Company and is located in Chile, where the currency is the Chilean Peso. Data on Hug's inventory and purchases are as follows: Inventory, January 1, 2016 Purchases during 2016 500,000 Pesos 1,000,000 Pesos 400,000 Pesos December 3, 2016 The beginning inventory was acquired during the fourth quarter of 2015, and the ending inventory was acquired during the fourth quarter of 2016. Purchases were made evenly over the year. Exchange rates were as follows: Fourth quarter of 2015 January 1, 2016 Average during 2016 Fourth quarter of 2016 December 31, 2016 Peso -$0.00152 l Peso $0.00148 Peso $0.00162 Peso $0.00165 1 Peso- so.00168 25. Refer the information provided above. Assuming the US, dollar is the functional currency, what is the amount of Corpuz's cost of goods sold for 2016 re-measured in U.S. dollars? A. $1,782 B. S1,760 C.$1,720 D. $1,692