Wing Co. consigned eight printing machines to Wind Co. Each machine cats P1,000,000) and has a suggested retail price of P2,100,000. Wing paid $200,000 in transporting the machines to the consignee's place of business. At theend of the period, Wind remitted PS,417,500 to Wing representing collections on sales during the period, after deducting the following: Commission (based on sales net of commission) Finder's fee (based on commission) Delivery, installation and testing (on each unit sold) P50,000 Materials generated from the testing were sold for 15,000 and included in the remittance to Wing Co. Wing Co. appropriately reported ending inventory of P3075,000 for the unsold consigned machines