Mirador had determined its December 31. 2021 inventory on a FIFO basis at P 200.000. Information

pertaining to that inventory follows:

Estimated selling price, P 204,000

Estimated cost of disposal, P 10,000

Normal profit margin, P 30.000

Current replacement cost. P 180.000

Mirador records losses that result from applying the lower of cost or net realizable value.

QUESTION:

On December 31, 2021, the loss that Mirador should recognize is

O P 6,000

O P 20,000

O P 36.000

O P 14.000

Mirador had determined its December 31, 2021 inventory on a FIFO basis at P200,000. Information pertaining to that inventory follows: . Estimated selling price, P 204.000 Estimated cost of disposal, P 10,000 Normal profit margin, P 30,000 Current replacement cost, P 180,000 Mirador records losses that result from applying the lower of cost or net realizable value. . QUESTION: On December 31, 2021, the loss that Mirador should recognize is O P6.000 P20,000 O P36,000 OP 14.000