The Love Company seeks to streamline the costing system at its Manila plant. It will use a backflush costing system with three trigger points: - Purchase of raw materials - Completion of finished goods - Sale of finished goods There are no beginning inventories. The following data pertain to April 2020: \begin{tabular}{|l|r|} \hline Raw materials purchased & $P 880,000$ \\ \hline Raw materials used & 850,000 \\ \hline Conversion costs incurred & 422,000 \\ \hline Conversion costs applied to finished goods & 400,000 \\ \hline Cost transferred to finished goods & $1,250,000$ \\ \hline Costs of goods sold & $1,190,000$ \\ \hline \end{tabular} Assume no material variances. The balance of the RIP account at the end of April 2020 is: Select the correct response: $\mathrm{P} 880,000$ P30,000 P O P850,000

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