Dorothy Trading Corporation consigns merchandise to Cerise, Inc. of Quezon

City. In 20x4 shipments to the consignee amounted to 4,000 and in 20x5 6,210

units. Unit cost and sales price per unit have been uniformly applied at P4 and

P9, respectively.

The consignor considers all shipments as sales and credits the consignee's

account for remittances made. The consignee remits for the units as soon as they

are sold, and the remittances for 20x5 amounted to P58,590. The inventory on

consignment as of December 31, 20x5 was 1,200 units.

The inventory on consignment as of December 31, 20x4 was: