Problems 8 and 9 are based on the following information: Navarro, Inc., whose reporting currency is the U.S. dollar, has a subsidiary in Argentina, whose functional currency also is the U.S. dollar. The subsidiary acquires inventory on credit on November 1 , Translation of Foreign Currency Financial Statements 517 2023 , for 100,000 pesos that is sold on January 17,2024 , for 130,000 pesos. The subsidiary pays for the inventory on January 31,2024 . Currency exchange rates are as follows: 8. What amount does Navarro's consolidated balance sheet report for this inventory on December 31, 2023? a. $16,000 b. $17,000 c. $18,000 d. $19,000 9. What amount does Navarro's consolidated income statement report for cost of goods sold for the year ending December 31, 2024? a. $16,000 b. $17,000 c. $18,000 d. $19,000