How much is the Inventory loss due to the flood? 1 point On October 1, 2021, the warehouse of ABC Co. and all inventories contained therein were damaged by flood. Off-site back up of data base shows the following information: Inventory. Jan. 1 Accounts payable, Jan. 1 Accounts payable, Sept. 30 Payments to suppliers Freight-in Purchase returns and discounts Sales from Jan. to Sept. Sales returns Sales discounts Gross profit rate based on sales 14,500 6,000 3.000 50,000 5.000 2,500 75,000 5,000 2.000 20% Additional information: Goods in transit as of October 1, 2021 amounted to P2.000, cost of goods out on consignment is P1.200. and materials damaged by flood can be sold at a salvage value of P500, O 6,800 O 7,200 0 7,800 8,200