WHAT IS THE COST OF INVENTORY AFTER THE CONSIGNMENT OF SALE

Aircon, Inc. consigned ten one-horsepower air conditioning units to Argy Trading and paid P2.000 for the freight. The consignee is allowed a commission of 5% on sales. Argy Trading submitted the following report at the end of the period: Sales (6 units) 72.000 Less: Advances to Aircon, Inc. 10,000 Selling expenses 800 Installation and delivery 1.200 Commission 7.200 19.200 Net remittance 52,800 The selling expenses and the installation and delivery costs are chargeable to Aircon. Aircon consistently marks-up Its Inventories at a 12.50%% gross profit rate based on sales price. This does not reflect any freight. How much is the cost of the inventory after the consignment sale