Westmore Ltd. is a British subsidiary of a U.S. company. Westmore's functional currency is the pound sterling (£). The following exchange rates were in effect during 2018: Jan.1£1=$1.60June 30£1=$1.64Dec.31£1=$1.61Weighted average rate for the year£1=$1.59?Westmore reported sales of £1,500,000 during 2018. What amount (rounded) would have been included for this subsidiary in calculating consolidated sales?
A. $2,400,000.
B. $931,677.
C. $943,396.
D. $2,415,000.
E. $2,385,000.
Answer: E
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