21. For the year 2009, the gross margin of Jumbo Co. was P96, 000, the cost of goods manufactured was P340,000; the beginning inventories of work in process and finished goods were P28,000 and P45,000 respectively; and the ending inventories of work in process and finished goods were P38,000 and P52, 000 respectively. The sales of Jumbo Co. for 2009, must have been Last month, Babe Company placed P60,000 of materials into production. The printing department used 8,000 labor hours at P5.60 per hour and the binding department used 4,600 hours at P6.00 per hour. Factory overhead is applied at a rate of P6.00 per labor hour in the printing department and P8.00 per labor in the binding department. Babe's inventory accounts show the following balances: Beginning Ending Finished Goods Work in Process P22,000 P15,000 P17,000 P17,600 Materials P20,000 P18,000 22. What is the cost of goods sold