The Beta Co. shows the following results of operation on Dec. 31.

Variable cost

Fixed costs

Direct materials

P512,500

Direct labor

575,000

Manufacturing overhead

400,000

P212,500

For the year then ended, the Company produced 170,000 units and sold 150,000 units.No beginning and ending inventory of work in process and no beginning inventory of finished goods.What is the value assigned to finished goods inventory under absorption?