Esposito is an Italian subsidiary of a U.S. company.Esposito's ending inventory is valued at the average cost for the last quarter of the year.The following account balances are available for Esposito for 2018: Beginning inventory€20,000Purchases€400,000Ending inventory€15,000??Relevant exchange rates follow:? 4th quarter average, 2017$0.93=€1December 31, 2017$0.94=€1Average for 2018$0.96=€14th quarter average, 2018$0.99=€1December 31, 2018$1.01=€1?Compute ending inventory for 2018 under the temporal method.
A. $15,150.
B. $14,400.
C. $14,100.
D. $13,950.
E. $14,850.
Answer: E
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