Ramsay Company established a branch in Pasig on March 1, 2022. Shipments of merchandise at billed prices during March we

[answerhappygod]

Ramsay Company established a branch in Pasig on March 1, 2022.
Shipments of merchandise at billed prices during March were as
follows:

March 5, 2022 (at 10% mark-up) P165,000
March 10, 2022 (at 20% mark-up) 240,000
March 20, 2022 (at 25% mark- up) 175,000

On March 21, 2022, the branch returned defective merchandise which
was billed at P15,000 (received on March 20, 2022). The monthly
report submitted by the branch to the home office for the month of
March showed that unsold inventory was P196,000. The branch
reported net income for the month of March of P49,500.

How much is the allowance for overvaluation to be reported by the
home office as of March 31, 2022?