A USCompany's Foreign Subsidiary Had the Following Amounts in Stickles (§),The

Multiple Choice

A U.S.company's foreign subsidiary had the following amounts in stickles (§) ,the functional currency,in 2018:
$$\begin{array} { l r } \text { Cost of goods sold } & \S 12,000,000 \\\text { Ending inventory } & 600,000 \\\text { Beginning inventory } & 240,000\end{array}$$
The average exchange rate during 2018 was §1 = $.96.The beginning inventory was acquired when the exchange rate was §1 = $1.20.The ending inventory was acquired when the exchange rate was §1 = $.90.The exchange rate at December 31,2018 was §1 = $.84.At what amount should the foreign subsidiary's cost of goods sold have been reflected in the 2018 U.S.dollar income statement?

A) $11,253,600.
B) $11,577,600.
C) $11,520,000.
D) $11,613,600.
E) $11,523,600.