A U. S. company's foreign subsidiary had the following amounts in stickles (§), the functional currency, in 2018: Cost of goods sold § 12,000,000 Ending inventory 600,000 Beginning inventory 240,000 The average exchange rate during 2018 was §1 = $.96. The beginning inventory was acquired when the exchange rate was §1 = $1.20. The ending inventory was acquired when the exchange rate was §1 = $.90. The exchange rate at December 31, 2018 was §1 = $.84. Assuming that the foreign nation for the subsidiary had a highly inflationary economy, at what amount should that foreign subsidiary's purchases have been reflected in the 2018 U. S. dollar income statement?