Vivo Company is preparing its June 30, 2021 financial statements. Prior to any adjustments, inventory is valued at P720,000. Listed below are information relating to inventory transactions: 1. Goods valued at P100,000 are on consignment with a customer. These goods are not included in the year-end inventory figure. 2. Goods costing P25,000 were received from a vendor on July 5, 2021. The related invoice was received and recorded on July 12,2021 . The goods were shipped on June 30,2021 , FOB shipping point. 3. Goods costing P85,000 were shipped, FOB shipping point, on June 30, 2021 and were delivered to the customer on July 2, 2021. The goods were included in the June 30,2021 ending inventory even though the sale was recorded on June 30. 4. A P35,000 shipment of goods to a customer on June 30, 2021, FOB destination, was not included in the year-end inventory. The goods cost P26,000 and were delivered to the customer on July 8 , 2021. The sale was recorded in July 2021. 5. An invoice for goods costing P35,000 was received and recorded as a purchase on June 30, 2021. The related goods, shipped FOB destination, were received on July 2, 2021, and thus were not included in the physical inventory. 6. Goods valued at P65,000 are on consignment from a vendor. These goods are not included in the year-end inventory figure. 7. A P105,000 shipment of goods to a customer on June 29, 2021, FOB destination, was recorded as a sale on that date. The goods, costing P84,000, and delivered to the customer on July 6, 2021 were not included in the June 30, 2021 ending inventory. Required: What is the correct amount of inventory that should be shown on the statement of financial position of Vivo Company on June 30, 2021? Show solution to support your