The year $1$ financial statements of the Chinese subsidiary of Auswold Limited

$($an Australian$-$based company$)$ revealed the following:

Chinese Yuan $($CNY$)$

Beginning inventory $750,000$

Purchases $1,500,000$

Ending inventory $450,000$

Cost of goods sold $1,800,000$

Australian dollar $($AUD$)$ exchange rates for $1$ CNY are as follows:

Date AUD

January $1,$ Year $10\mathrm{.}229$

Average, year $10\mathrm{.}217$

December $31,$ Year $10\mathrm{.}204$

The beginning inventory was acquired in the last quarter of the previous year, when the

exchange rate was AUD $0\mathrm{.}230=$ CNY $1$; ending inventory was acquired in the last

quarter of the current year, when the exchange rate was AUD $0\mathrm{.}210=$ CNY $1.$

$1.$ Assuming that the current rate method is 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 Ausword's Year $1$ consolidated financial statements.