11. Given the table, compute for the following:

Credit Sales *	10,000,000	Current Ratio	2 times
Gross Profit Margin	60%	Total Debt to Total Asset Ratio	60%
Ave. Collection Period	35 days	Total Asset Turnover	2 times
No. of Days in a Year	365 days	Inventory Turnover	4 times

* All sales are credit sales. Sales level is the same for the year

** Inventory level is constant throughout the year

(in Pesos)
Cash	41,096	Accounts Payable	500,000
Accounts Receivable		Notes Payable	500,000
Inventory **		Total Current Liabilities
Total Current Assets		Long Term Debt
Net Fixed Assets
Total Assets	5,000,000	Total Liabilities	3,000,000
		Stockholders Equity
		Total Liabilities and Stockholders Equity	5,000,000
Gross Profit

How much is the cost of goods sold?

a. P3,000,000

b. P10,000,000

c. P6,000,000

d. P4,000,000