Parnell co. Is located in tupelo MS, but owns 80% of Sveite Co. which operates in Paris, France. Assume that S's functional currency is the US dollar. On 1/1/x1 that S reported an inventory of 20,000 units that cost 200,000 francs and the S uses the FIFO inventory method. During quarter 1, S purchased 10,000 additional units at a cost of 150,000 francs. During year X1, S sold 8,000 units. Exchange rates were as follows: 1/1/x1 $1.1 per 1 franc 3/31/X1 $1.3 per franc Average exchange rate: $1.2 per franc Based on this information, what is the translated/ re-measured COGS amount that s should report on 3/31/x1? a. 80,000 b. 88,000 c. 96,000 d. 104,000 e. None of the above 10 na