ABC Co. is a VAT trader. It had the following data for the month of June. VAT not included:

Cash sales P 200,000

Sales on account 100,000

Installment sales 100,000

Consignment sales (at suggested retail price)(not yet sold as of the end of the month)

Date consigned Amount

April 15 P 100,000

May 15 120,000

June 15 140,000

Question no. 1: How much of the consigned goods is subject to VAT?__________________

Question no. 2: How much is the output tax on his sales for the month?_______________