Items 44 to 48 are based on the following: On January 1, 2021, Lesotho's inventory costs P10,000,000 with a net realizable value of P9,000,000. Purchases during the year amounted to P42,000,000 while purchase returns and allowances were P2,000,000. At the end of 2021, its inventory costs P12,000,000 with a net realizable value of P10,600,000. 44. Under the direct method, what is the cost of goods sold? 45. Under the allowance method, what is the cost of goods sold after inventory writedown? 46. Under the allowance method, what is the Loss on Inventory writedown, if any? Your answer 47. Under the allowance method, what is the cost of sales before inventory writedown? Your answer 48. In the Statement of Financial Position as of December 31, 2021, what amount should be shown as Allowance for inventory writedown? Your