On December 31, 2020, a fire broke out in the warehouse of Cialete Company, destroying all its inventory. The following information is presented for 2020: January 1 December 31 Inventory P 750,000 Accounts Receivable 510,000 P 490,000 Accounts Payable 350,000 590,000 Collection on accounts receivable 3,100,000 Payment to suppliers 1,950,000 Goods out on consignment at sales price 310,000 Salvage value of inventory 45,000 2019 2018 2017 Sales P3,000,000 P2,750,000 P2,100,000 Gross Profit 1,200,000 1,045,000 756,000 Requirements: Compute the following on December 31, 2020 1. Purchases 2. Sales 3. Inventory Loss