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The AVENIDA RIZAL branch of ABC TRADING is billed by the HO for merchandise shipments at 140% of cost. Branch records for 2019 show the

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The AVENIDA RIZAL branch of ABC TRADING is billed by the HO for merchandise shipments at 140% of cost. Branch records for 2019 show the following: Sales, P4,500,000; Purchases, P1,000,000; Shipments from Home Office, P2,450,000. The branch reports an ending inventory of P700,000, including items costing P175,000 from local purchases. As far as HO is concerned, how much is the branch gross profit

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