The following information was taken from the records of a branch: Sales by branch 2,800,000 Beginning inventory Billings to branch by home office 2,500,000 Operating expenses 400,000 Ending inventory at billed price 1,000,000 The following information was taken from the records of the home office: Branch current account 2,600,000 Shipments to branch 2,000,000 Allowance for markup - Unadjusted 500,000