(2.) The cost department of Lancer Corporation made the following data and costs available for the year 1997: Raw materials Work-in-process January 1 December 31 P 34,200 P 49,300 81,500 42,350 48,600 ? Finished goods 21,350 Depreciation - factory equipment Raw materials purchased 364,000 Direct labor 162,500 Indirect labor 83,400 Freight-in 8,600 Miscellaneous factory overhead 47,900 Finished goods inventory Jan. 1: 300 units; Dec. 31: 420 units, all from current years of production. Sold during 1997: 3,880 units at PhP 220 per unit. The company uses FIFO method in costing its inventory. Required: (1) The unit cost of the finished goods inventory on December 31. (2) The cost of goods manufactured and sold statement.