You are engaged to audit the inventories of KKK Corp. as of December 31, 2020. Upon testing of controls, the inventories is seemingly great, and you were asked by the audit manager to perform analytical procedures to test the reasonableness of the inventory balance. The company reported inventories at P400,000 as a result of its physical count on December 31, 2020. The following information was provided to you by KKK Corp.'s accountant:

	Cost	Retail
Beginning inventory	P1,020,000	P1,920,000
Purchases	13,072,500	22,155,000
Freight in	300,000
Purchase return	450,000	750,000
Purchase allowance	270,000
Departmental transfer debit	300,000	425,000
Departmental transfer credit	600,000	1,200,000
Net markup		450,000
Net markdown		1,425,000
Sales		19,800,000
Sales returns and allowance		450,000
Sales discounts		500,000
Employee discount		300,000
Normal spoilage and breakages		600,000
Abnormal spoilage and breakages	120,000	200,000

Using the average approach, what is the estimated ending inventory shortage should KKK Corp. recognized on December 31, 2020?