PLEASE HELP ME ANSWER MY SPECIAL ACTIVITY GUYS THANKS

1. Levi Company’s inventory at December 31, 2020, was P2,180,000 based on physical count of goods priced at
cost, and before any necessary year-end adjustment related to the following:
• Included in the physical count were goods billed to a customer, FOB shipping point on December 31,
2020. These goods had a cost of P60,000 and were picked up by the carrier on January 3, 2021.
• Also included in the physical count, goods billed to a customer, FOB destination on December 24,
2020 and was also picked up by the carrier the next day, December 25, 2020. The goods had a cost of P120,000.
• Goods shipped FOB shipping point on December 28, 2020 from a vendor to Levi were received on
January 4, 2021. The invoice cost was P90,000.
• Goods shipped FOB destination on December 22, 2020 from a vendor to Levi were received on
January 3, 2021. The invoice cost was P115,000.

What amount should Levi Company report as inventory on its December 31, 2020 Statement of Financial
Position?