The Pampanga Manufacturing Company uses a raw and in process (RIP) inventory account and expenses all conversion costs to the cost of goods sold account. At the end of each month, all inventories are counted, their conversion cost components are estimated, and inventory account balances are adjusted accordingly. Raw material cost is backflushed from RIP to Finished Goods. The following information is for the month of April: Beginning balance of RIP account, including P1,400 of conversion cost........ ..... P 31.000 367,000 Raw materials received on credit. Ending RIP inventory per physical count, including P1,800 conversion cost estimate 33,000 Compute the amount to be backflushed from RIP to Finished goods: a. P365,000 c. P367,000 b. 368,600 d. 365.400