(Consignment Computations) On May 3, 2007, Michelle Smith Company consigned 70 freezers, costing $500 each, to Angel Martino Company. The cost of shipping the freezers amounted to $840 and was paid by Smith Company. On December 30, 2007, an account sales was received from the consignee, reporting that 40 freezers had been sold for $700 each. Remittance was made by the consignee for the amount due, after deducting a commission of 6%, advertising of $200, and total installation costs of

$320 on the freezers sold.

Instructions

(a) Compute the inventory value of the units unsold in the hands of the consignee.

(b) Compute the profit for the consignor for the units sold.

(c) Compute the amount of cash that will be remitted by the consignee.