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A U.5. company's foreign subsidiary had these amounts in local currency units {Yuan} in 20311: Beginning inventory 400,000 Cost of goods sold 2,000,000 Purchases 3,300,000 The related exchange rate information: Rate when beginning inventory was acquired $0.46 Rate when ending inventory was acquired 0.42 The average exchange rate during 20X1 0.48 Exchange rate at December 31, 20X1 0.5 Assuming that that the foreign country is highly inationary, at what amount should the foreign subsidiary's cost of goods sold be reected in the US. dollar income statement