On December 31, 2020, Tinapay Company's ending inventory was 3,000,000 and the allowance for inventory writedown before any adjustment was 150,000. Relevant information on December 31 is attached in the photo. What amount of loss on writedown is included in cost of goods sold for 2020?

Product 1 Replacement Cost P900,000 1,200,000 1,000,000 600,000 Cost P800,000 1,000,000 700,000 500,000 2 Sales Price P1,200,000 1,300,000 1,250,000 1,000,000 Normal Profit P250,000 150,000 300,000 300,000 NRV 550,000 1,100,000 950,000 350,000 3 4 0/3 x On December 31, 2020, Tinapay Company's ending inventory was P3,000,000 and the allowance for inventory writedown before any adjustment was P150,000. Relevant information on December 31 is attached in the photo. What amount of loss on writedown is included in cost of goods sold for 2020? * Product NRV 1 Replacement Cost P900,000 1,200,000 1,000,000 600,000 Cost P800,000 1,000,000 700,000 500,000 2 Sales Price 1,200,000 1,300,000 1,250,000 1,000,000 Normal Profit P250,000 150,000 300,000 300,000 P550,000 1,100,000 950,000 350,000 3 4 P50,000 P200,000 400,000 P250,000 Correct answer P400,000