The following items were reported as inventories by Sleigh Company a of December 31, 2021: Goods purchased FAS excluding cost alongside the vessel of P3,000 and cost of shipment of P5,000 Goods purchased CIF including insurance of P5,000 and freight of P10,000 Goods purchased, in transit, shipped FOB Seller Goods sold, in transit, shipped FOB Buyer Goods held on consignment Goods out on consignment Freight paid on goods out on consignment Storage cost of goods completed Freight paid on goods sold Unused ofce supplies Goods purchased with a buyback agreement 1. How much is the total correct amount of inventories as of December 31, 2021? 50,000 250,000 80,000 20,000 40,000 3,000 60,000 2,000 50,000 P100,000 5,000