The following are the balances as of December 31, 2021 of certain accounts of R Company in relation to your audit of the company's 2021 financial statements: Accounts receivable Inventory Sales Cost of sales P12,200,000 6,500,000 75,000,000 54,000,000 The company uses the periodic inventory system, and the merchandise inventory balance above ist he result of the physical count conducted on December 30, 2021 a the close of the business hours. All merchandise received up to December 31, 2021 have been included in the count and all merchandise shipped to customers up to December 30, 2021 have been eliminated from the count. It takes at least three days to reach destination. You conducted a sales cut off test and found the following information: Shipment date Dec. 26, 2021 Selling price Cost P26,000 P20,000 Shipping terms FOB shipping point P85,000 P70,000 FOB destination Dec. 28, 2021 P120,000 P92,000 FOB Shipping point Dec. 30, 2021 P90,000 P67,000 FOB destination Dec. 30, 2021 P64,000 P50,000 FOB Shipping point Dec. 31, 2021 January 2022 recorded sales P155,000 P121,000 FOB shipping point December 31, 2021 P200,000 P150,000 FOB Destination December 30 P220,000 P168,000 FOB Destination December 28 P43,000 P55,000 P32,000 P42,000 FOB destination January 3, 2022 January 3, 2022 The goods were made to customer's specifications, were completed on December 30, 2021 but were requested by the customer to be delivered in January 2022. Goods out on consignment costing P80,000 and with sales price of P120,000 were not included in the physical count. These goods have been recorded as sales when they were shipped out to consignees. Verification with the consignees indicated that only 60% of these goods had been sold as of December 31, 2021. The company has already set up cost of sales account in its books, after the physical count. Compute the adjusted balances of the following accounts: Accounts Inventory receivable Per client Audit adjustments Adjusted balances Sales Cost of sales