Pam Company uses the FIFO method in calculating cost of goods sold for the three products that the company handles. Inventories and purchase information concerning the three products are given for the month of July: July 1 Description Inventory C 50,000 units at P6.00 P 30,000 units at P10.00 A 65,000 units at PO.90 July 1-15 Purchases July 16-31 Purchases 70,000 units at P6.50 30,000 units at P8.00 45,000 units at P10.50 30,000 units at P1.25 None None July 1-31 July 31 Sales Selling price 105,000 units P8.00 per unit 50,000 units 45,000 units P10.00 per unit P2.00 per unit On July 31, the company's suppliers reduced their prices from the most recent purchase prices by the following percentages: Product C, 20%; Product P, 10%; Product A, 8%. Accordingly, Pam decided to reduce its sales prices on all items by 10%, effective August 1. Pam's selling cost is 10% of sales price. Products C and P have a normal profit (after selling costs) of 30% on sales prices while the normal profit on product A (after selling costs) is 15% of sales price. 21. What is the amount of inventory to be reported on Pam's statement of financial position at July 31? 22. What is the loss on inventory writedown for the month of July? 23. What is the cost of sales after loss on inventory writedown for the month of July?