Question 14 1 pts Balaji Corporation of India is an 90 percentowned subsidiary of Porter Corporation, a US. firm, and its functional currency is the US. dollar. Balaji=s books of record are maintained in Rupee and its inventory is carried at the lower of cost or market. The current exchange rate rupees at Dec. 31, 19X8 is $.48 The historical cost of the inventory is 12,000 Rupees. The market value ofthe inventory is 11,000 Rupees. The historical exchange rate is $ 43 The $ amount of inventory that will be reported in the remeasured statement, using temporal method= is: 0 12.000 ' 8.48 = S 5.7"60 11,000 * $.48 = $ 5,280 0 12,000 ' 8.43 = S 5,16030 0 11,000 * $.43 = $ 4