While examining the December 31, 2019 financial statements of Google Company, the following errors were discovered. Ending inventory was overstated by P10,000. Beginning inventory was understated by P4,000. P100,000 worth of merchandise was purchased and received towards the end of 2019 and included in inventory. The purchase was recorded in 2020 when payment for the goods was made. Profit reported in the 2019 profit and loss before adjustment for the given items is P600,000. What is the adjusted profit for the year ended December 31, 2019? a. P714,000 b. P686,000 C. P494,000 d. P486,000

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