A Hong Kong Subsidiary of a U

A Hong Kong subsidiary of a U.S. parent reports the following information in its accounts:
•Beginning inventory, HK$50,000
•Purchases, HK$800,000
•Ending inventory, HK$60,000
The subsidiary uses FIFO for inventory valuation. Its beginning inventory consists of HK$40,000 purchased when the exchange rate was $0.124/HK$, and HK$10,000 purchased when the exchange rate was $0.126/HK$. Purchases and sales of inventory occurred evenly throughout the year. The subsidiary's ending inventory consists of HK$55,000 purchased when the exchange rate was $0.132/HK$, and HK$5,000 purchased when the exchange rate was $0.134/HK$. The average exchange rate for the year was $0.130/HK$, and the rate at the end of the year was $0.135/HK$.
Required
a. Assume the subsidiary's functional currency is the Hong Kong dollar. Calculate the subsidiary's translated ending inventory, and its translated cost of goods sold for the year.
b. Assume the subsidiary's functional currency is the U.S. dollar. Calculate the subsidiary's remeasured ending inventory, and its remeasured cost of goods sold for the year.