Cable Company prepare monthly income statements.A physical inventory is taken only at year-end; hence, month-end inventories must be estimated.All sales are made on account.The rate of markup on sales is 50%.The following information related to the month of May:

Accounts receivable, May 1P20,000

Accounts receivable,May 3130,000

Collections of accounts receivables during May50,000

Inventory, May 136,000

Purchases of inventory during May32,000

The estimated cost of May 31, inventory is