Use the following facts for Question 8 Sheep Ltd., a Scottish subsidiary of Wool, Inc., a U.S. company, showed cost of goods sold on its income statement for the year ended December 31, 2010. Inventory, 1/1/10 110,000 Purchases 950.000 Cost of Goods Available for Sale 1,060,000 Inventory, 12/31/10 200.000 Cost of Goods Sold 860,000 Exchange rates/ December 31, 2010 $0.522 December 31, 2009 $0.560 2010 average $0.547 8 What amount should be used to consolidate Sheep's cost of goods sold into Wool's income statement under the temporal rate method