Recently Harry Clarke sent goods on consignment to his agent in Kenya. Harry sent 320 crates of goods at $60 per crate. Harry paid carriage and insurance totalling $4200 on these goods. At the end of Harry's financial year, the consignee sent an account sales which showed the following details.

a. Calculate the value of the closing inventory of unsold goods.

b. State the double entry required to record the value of unsold inventory in Harry Clarke's books of account.

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$ Sale proceeds: crates sold at $30 each 19 200 Less: storage and import duties on whole consignment (2 100) Less: commission 5% (960) Net proceeds 16 140