The accounts and balances shown below were taken from Unique Low Company's accounting records on December 31, 2021: Freight-in P2,000; Selling Expenses P150,000; Purchase Returns P3,000; Ending Inventory P80.000. The cost of goods sold is equal to 800 % of selling expenses. How much should be reported as the cost of goods available for sale? O P1,205,000 P1,280,000 P1,200,000 O P1,285,000 O None of the above