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Newberry, Inc., whose reporting currency is the U.S. dollar ($), has a subsidiary in Argentina,...

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Newberry, Inc., whose reporting currency is the U.S. dollar ($), has a subsidiary in Argentina, whose functional currency also is the $. The subsidiary acquires inventory on credit on November 1, 2017, for 160,000 pesos that is sold on January 17 2018, for 187000 pesos. The subsidliary pays for the inventory on January 31. 2018. Currency exchange rates are as follows: November 1, 2017 December 31, 2017 January 17, 2018 January 31, 2818 8.52 1 peso 0.53 -1 0.54 1 . 55-1 What amount does Newberry's consolidated income statement report for cost of goods sold for the year ending December 31, 2018? $88,000 $84,800 $83,200. $86.400

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