On December 31, 2021, a typhoon damaged a warehouse of Iceman Corporation. The entire company and many accounting records stored in the warehouse were completely destroyed. Although the Inventory was not Insured, a portion could be sold for scrap. Through the use of microfilmed records, the following data were gathered: Inventory, January 1, P450,000; Purchases, P2,160,000; Cash sales, P273,600; Amount of account receivable collected, P2,520,000; Accounts receivable-January 1; P210,000; Accounts written off, P9,600; Recovery of accounts written-off P3,600; Accounts receivable-December 31, P342,000; Sales returns, P36,000: Sales discounts, P14,400; Purchase returns, P60,000; Purchase discounts, P12,000; Freight in, P21,600; Salvage value of damaged Inventory, P90,000 while an undamaged Inventory that were marked to sell at P150,000 were recovered. Gross profit percentage on sales, 32%. How much is the value of Inventory loss? * Your answer This is a required