Foreign Currency Transaction Valuation

ABC Corporation, a U.S.-based multinational company, enters into a transaction to purchase inventory from a supplier in Germany, with a price of €100,000. The exchange rate at the date of the transaction is 1.1 USD/EUR. ABC Corporation must recognize the transaction in its financial statements based on the applicable accounting standards.

What is the initial amount that ABC Corporation should record for this foreign currency transaction in its accounting records?