Ouch, Inc., owner of a trading company encountered a discrepancy between the company's income and the sales volume. The owner suspects that the staff is committing theft. Your investigations revealed...

Ouch, Inc., owner of a trading company encountered a discrepancy between

the company's income and the sales volume. The owner suspects that the staff is committing theft. Your investigations revealed the following:• Physical inventory, taken December 31, 2020 under your observation showed that cost was P265,000 and net realizable value (NRV), P244,000. The inventory on January 1, 2020 showed cost of P390,000 and net realizable value of P375,000. It is the corporation's practice to value inventory at "lower of cost or NRV." Any loss between cost and NRV is included in "Other expenses." • The average gross profit rate was 40% of net sales. • The accounts receivable as of January 1, 2020 were P135,000. During 2020, accounts receivable written off during the year amounted to P10,000. Accounts receivable as of December 31, 2020 were P375,000. • Outstanding purchase invoices amounted to P300,000 at the end of 2020. At the beginning of 2020 they were P375,000. • Receipts from customers during 2020 amounted to P3,000,000. • Disbursements to merchandise creditors amounted to P2,000,000. Requirements: -How much is the total sales? -How much is the total purchases? -How much is the total goods available for sale? -How much is the inventory shortage?Note: Please provide a solution/explanation. Thank you!