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2. On November 1. a fire destroyed the work In process Inventories of lienshin Inc. After the fire a physical Inventory was taken. November 1 January 1 Direct raw materials P400.000 P600.000 Factory supplies 00.000 so.ooo Work In process it? 300.000 Finished goods 500.000 900.000 For the 10 months ended Dcto ber 31. Kenshln reported the following: Sales P10.000.000 Direct labor IDL} 4.000.000 Accounts payable. Jan. 1 40.000 Manufacturing overhead 4094 of DL Accounts payable. Oct. 31 00.000 Gross profit rate 3516 Payment for purchases 500.000 The amount of work In process Inventory that was destroyed by re amounted to a. P510.000 la. P140.000 c. \"60.000 cl. F540.000 3. On December 31. a huge the destroyed most of the Inventories of Millennium Corporation. Accounting records on December 31 showed the following data: Sales PS.000.0000 Beginning Inventory 500.000 Purchases 4.900.000 Carriage Inward 100.000 Purchase return. allowanoe and discount 00.000 Goods out on consignment (at selling price} 400.000 Gross margin rate based on cost 2556 Additional Information: - Included In the purchases was merchandise In transit as of December 31 purchased from a vendor under F00 Shipping point. P50.000. - Unsalable merchandise destroyed by fire with a normal selling price of P100000 but can be sold to a jobber for P10.000. - Ending Inventory not destroyed by re In good condition at cost. P240000. What Is the amount of Inventory loss? a. P060.000 b. P1.400.000 c. P610.000 cl \"30.000