Duff company is a subsidiary of rand corporation and is located in madrid, spain, where the currency is the euro (€). data on duff's inventory and purchases are as follows: inventory, january 1, 20x

Duff company is a subsidiary of rand corporation and is located in madrid, spain, where the currency is the euro (€). data on duff's inventory and purchases are as follows: inventory, january 1, 20x7 € 224,000 purchases during 20x7 855,000 inventory, december 31, 20x7 194,000 the beginning inventory was acquired during the fourth quarter of 20x6, and the ending inventory was acquired during the fourth quarter of 20x7. purchases were made evenly over the year. exchange rates were as follows: € $ fourth quarter of 20x6 1 = 1.29015 january 1, 20x7 1 = 1.32030 average during 20x7 1 = 1.39655 fourth quarter of 20x7 1 = 1.45000 december 31, 20x7 1 = 1.47280 required:

a. show the remeasurement of cost of goods sold for 20x7, assuming that the u.s. dollar is the functional currency. (round your intermediate calculations to nearest dollar amount.)