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 110,000 pesos that is sold on January 17, 2018, for 125,000 pesos. The subsidiary pays for the inventory on January 31, 2018. Currency exchange rates are as follows:

November 1, 2017	$	0.22	=	1	peso
December 31, 2017		0.23	=	1
January 17, 2018		0.24	=	1
January 31, 2018		0.25	=	1

What amount does Newberrys consolidated balance sheet report for this inventory at December 31, 2017?

Multiple Choice

• $26,400.

• $24,200.

• $25,300.

• $27,500.