What amount should be reported in the December 31, 2019 Statement of Financial Position?.Please show the solution in good accounting form.

The balance in Vloom Company's inventory account on December 31, 2019 was P1,225,000 before the following information was considered: (a) Goods shipped FOB destination, on December 20, 2019 from a vendor to Vloom were lost in transit. The invoice cost of P45,000 was not recorded by Vloom. On December 28, 2019, Vloom notified the vendor of the lost shipment. (b) Goods were in transit from a vendor to Vloom on December 31, 2019. The invoice cost was P60,000, and the goods were shipped FOB shipping point on December 28, 2019. Vloom received the goods on January 4, 2020. What amount of inventory should be reported in the December 31, 2019 Statement of Financial Position? * Your