The Year 1 financial statements of the Chinese subsidiary of Singcom Limited Singapore-based cornpany) revealed the following: Singapore dollar (SGD) exchange rates for 1CNY are as follows: The beginning inventory was acquired in the last quarter of the previous year, when the exchange rate was SGD 0.210 = CNY 1; ending inventory was acquired in the last quarter of the current year, when the exchange rate was SGD 0.205 CNY1. Required: a. Assuming that the current rate method) is the approptiate method of translation, determine the amounts at which the Chinese subsidiary's ending inventory and cost of goods sold should be included in Singcom's Year 1 consolidated financial staternents. b. Assuming that the femporal method jis the appropriate method of translation, determine the amounts at which the Chinese subsidiary's ending inventory and cost of goods sold should be included in Singcom's Year 1 consolidated financial statements. The Year 1 financial statements of the Chinese subsidiary of Singcom Limited Singapore-based cornpany) revealed the following: Singapore dollar (SGD) exchange rates for 1CNY are as follows: The beginning inventory was acquired in the last quarter of the previous year, when the exchange rate was SGD 0.210 = CNY 1; ending inventory was acquired in the last quarter of the current year, when the exchange rate was SGD 0.205 CNY1. Required: a. Assuming that the current rate method) is the approptiate method of translation, determine the amounts at which the Chinese subsidiary's ending inventory and cost of goods sold should be included in Singcom's Year 1 consolidated financial staternents. b. Assuming that the femporal method jis the appropriate method of translation, determine the amounts at which the Chinese subsidiary's ending inventory and cost of goods sold should be included in Singcom's Year 1 consolidated financial statements