ABC's 2020 cost of sales was 1 point The following information was derived from the 2020 accounting records of ABC Co.: ABC's Goods ABC's Central Warehouse Held by Consignees Beginning inventory P260,000 P 28.000 Purchases 950,000 140.000 Freight-in 20,000 Transportation to consignees 10.000 Freight-out 60,000 16.000 Ending inventory 50.000 290,000 P940,000 P1,000,000 O P1,068,000 O P1,078,000