Marker Company has the following information pertaining to its merchandise inventory as of December 31, 2019:

Inventory on hand (including merchandise received onconsignment of P 20,000)

200,000

Inventory purchased with a buyback agreement

100,000

Merchandise in transit, FOB shipping point, including P 5,000 freight cost

155,000

Merchandise in transit, free alongside, including delivery cost alongside the vessel of P 6,000 but excluding the cost of shipment of P 3,000

250,000

Merchandise in transit, CIF (including insurance cost and freight of P 8,000)

175,000

QUESTION 5:

What amount should Marker Company report as value of its inventory in its 2019 statement of financial position?

Group of answer choicesP 757,000P 749,000P 763,000P 857,000