A subsidiary of Dunder Inc., a U.S. company, was located in a foreign country. The functional currency of this subsidiary was the Stickle () which is the local currency where the subsidiary is located. The subsidiary acquired inventory on credit on November 1, 2020, for 160,000 that was sold on January 17, 2021 for 207,000. The subsidiary paid for the inventory on January 31, 2021. Currency exchange rates between the dollar and the Stickle were as follows: What amount would have been reported for cost of goods sold on Dunders consolidated income statement at December 31, 2021? $38,400. $43,200. $33,600. $35,200. $40,000. November 1, $ 0.21 = 1 2020 December 31, $ 0.22 = 1 2020 January 1, $ 0.24 = 1 2021 January 31, $ 0.25 = 1 2021 Average for $ 0.27 = 1 2021.