Guitar Realty paid P 2,700.000 for choice cut land, of which 120 square meter regular lots are expected to be

sold at P 3,750 per square meter and 80 square meters corner lots expected to be sold at P 13,125 per square

meter.

QUESTION:

How much should be reported as inventory for regular lots and for corner lots?

A. Regular lots - P 1,890,000; Corner lots - P 810,000

B. Regular lots - P 600.000, Corner lots - P 2.100,000

C. Regular lots - P 810.000, Corner lots - P 1,890,000

D. Regular lots - P/2.100,000; Corner lots - P 600,000

Guitar Realty paid P 2.700,000 for choice cut land, of which 120 square meter regular lots are expected to be sold at P3.750 per square meter and 80 square meters corner lots expected to be sold at P 13,125 per square meter QUESTION How much should be reported as inventory for regular lots and for corner lots? Regular lots - P 1,890,000: Corner lots - P 810,000 O Regular lots - P600,000, Corner lots -P 2,100,000 O Regular lots-P810.000, Comer lots-P1,890,000 O Regular lots -P 2,100,000; Corner lots -P600,000