Question 2 (10) On 1 January 2019, P purchased 30% of the shares in A for P700,000. At this date, A's net assets stood at P1,400,000. At 31 December 2019, A has net assets of P1,500,000. P sold goods worth P160,000 to A at a margin of 25% Half of the goods remained in inventory at the year end. Required to calculate the value of the investment in associate as at 31 December 2019