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A Vat taxpayer had the following data on its operations for the month of January:

Sales, total invoice price P592,480
Purchases of goods, Vat not included:
From Vat registered persons
100,000
From non-vat registered persons 80,000
Purchases of services, Vat not included:
From Vat registered persons
20,000
From non-vat registered persons
8,000
From persons subject to percentage taxes
10,000
Salaries of employees
60,000
Other operating expenses
12,000

This is the first month of being liable to the value added tax. Data on inventories at the beginning of the period bought from VAT registered persons follow:

Inventory at cost
P44,800
Inventory at net realizable value
49,000
Value added tax paid on beginning inventory
4,800

Input Taxes are