Sunshine Commercial Corp. maintains a branch in Iloilo City and makes inventory shipment to its branch at 20% above cost. Selected balances taken from the books of Sunshine Commercial and its Iloilo branch as of December 31, 2019 are as follows: Merchandise inventory, Jan 1 Home Office Branch Purchases P120,000 P80,000 2.850,000 Shipments from HO 330,000 876,000 Shipments to Branch 750,000 Branch inventory allowance 157,500 Merchandise inventory on hand, 104,000 54,350 12/31 P24,350 of the branch's ending inventory came from outside suppliers. 32. The portion of the branch inventory on January 1 that came from home office amounted to: P45,000 P35,000 P37,500 P42,500 33. The amount of inventory to appear in the consolidated balance sheet P150,350 P153,350 P173.350