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?