The Mang Cha-a Publishing ships 8-volume sets of encyclopedia to book dealers

on consignment. The sets are to be sold at an advertised price of P99. The cost

per set is P50. Consignees are allowed a commission of 30% of the sales price,

and are to be reimbursed for freight relating to the consigned goods.

On December 3, 20x7, 100 sets were sent to JCo Bookstore on consignment.

The consignor paid packing charges of P170 for the shipment. The shipping cost

paid by the consignor was P400, and the consignee paid P60 for freight on the

sets received. 60 sets were sold in December for cash. Remittance of the amount

owed to the consignor was made on December 31, 20x7.

Both the consignor and the consignee take physical inventories, and they adjust

and close their books at year-end.

How much is the consignor's net profit on the consignment?