On December 30, 2018, JENNIE Corporation sold merchandise for P75,000 to LISA Company. The terms of the sale were n/30, FOB shipping point. The merchandise was shipped on December 31,2018, and arrived...

On December 30, 2018, JENNIE Corporation sold merchandise for P75,000 to LISA Company. The terms of the sale were n/30, FOB shipping point. The merchandise was shipped on December 31,2018, and arrived at LISA on January 2,2009. Due to a Clerical error, the sale was not recorded until January 2019 and the merchandise, sold at a 25% mark up on cost, was included in JENNIE's inventory at December 31,2018.

 As a result, Ed’s cost of goods for the year ended December 31,2018 was –