Problem 1 Purchase price of raw materials P100,000 Rebates on raw material purchases Import taxes Local taxes paid in relation to the purchase 1,500 Freight-in 12% VAT on the purchase price Interest...

Extracted text: Problem 1 Purchase price of raw materials P100,000 Rebates on raw material purchases Import taxes Local taxes paid in relation to the purchase 1,500 Freight-in 12% VAT on the purchase price Interest expense related to the purchase 3,200 Utilities used on factories to 0, Wages of factory personnel Salaries of accountants 000 Depreciation of factory equipment Depreciation of the head office 00 00 2,800 Normal losses during production Abnormal losses during production General and administrative expenses Storage costs of work-in-process inventories Storage costs of finished goods inventories 00 00 Shipping costs on sale of finished goods How much is the total cost of inventories?