Navarro, Incorporated, whose reporting currency is the U.S. dollar, has a subsidiary in Argentina, whose functional currency also is the U.S. dollar. The subsidiary acquires inventory on credit on November 1, 2023, for 180,000 pesos that is sold on January 17, 2024, for 214,000 pesos. The subsidiary pays for the inventory on January 31, 2024. Currency exchange rates are as follows:
November 1, 2023$ 0.64 = 1 pesoDecember 31, 20230.65 = 1 pesoJanuary 17, 20240.66 = 1 pesoJanuary 31, 20240.67 = 1 peso
What amount does Navarro’s consolidated income statement report for cost of goods sold for the year ending December 31, 2024?