The Canadian subsidiary of a U. S. company reported cost of goods sold of 50,000 C$, for the current year ended December 31. The beginning inventory was 15,000 C$, and the ending inventory was 10,000 C$. Spot rates for various dates are as follows: Date beginning inventory was acquired $1.08 = 1C$Rate at beginning of the year $1.10 = 1C$Weighted average rate for the year $1.12 = 1C$Date ending inventory was acquired $1.13 = 1C$Assuming the Canadian dollar is the functional currency of the Canadian subsidiary, the translated amount of cost of goods sold that should appear in the consolidated income statement is:.