Henke Co. uses the retail inventory method to estimate its inventory for interim statement purposes. Data relating to the computation of the inventory at July 31, 2020, are as follows: Cost Retail Inventory 2/1/20 200,000 250,000 Purchases 1,000,000 1,575,000 Mark-ups, net 175,000 Sales 1,750,000 Estimated normal shoplifting losses 20,000 Markdowns, net 110,000 Under the lower-of-cost-or-net realizable value method, Henke's estimated inventory at July 31, 2020 is P 96,000 P 120,000 P 84,000 OP 72,000