Problem 5 The Company provided the following information: Cost Retail Beginning 1,650,000 2,200,000 Inventory Net Purchases 3,725,000 4,950,000 Transfers - credit 200,000 300,000 Net markup 150,000...

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Extracted text: Problem 5 The Company provided the following information: Cost Retail Beginning 1,650,000 2,200,000 Inventory Net Purchases 3,725,000 4,950,000 Transfers - credit 200,000 300,000 Net markup 150,000 Normal loss 100,000 Employee 200,000 discounts Sales, including sales of P400,000 which were 4,000,000 marked down from P500,000 What is the estimated cost of inventory using the weighted average retail method?