1. Calculate the inventory value of the units unsold in the hands of the consignee. 2. Calculate the profit to the consignor for the units sold. 3. Prepare all journal entries required for the consignment arrangement on the books of Illuminators Inc. 4. Prepare all journal entries required for the consignment arrangement on the books of Waytair Decor Ltd.

illuminators Inc. shipped finished goods inventory, consisting of electric fireplaces, to Waytair Decor Ltd. on consignment at the beginning of the month. Illuminators incurred freight costs to ship the merchandise to Waytair. Waytair paid a local radio station for advertising costs (which Illuminators promised to reimburse). At the end of the month, Waytair had sold many of the fireplaces. Waytair notified Illuminators of the sales, retained a commission, and remitted the cash due to Illuminators. Other information pertaining to the consignment arrangement follows: Number of fireplaces shipped to Waytair Decor Ltd. Cost to illuminators to manufacture each fireplace Cost to Illuminators of freight to ship fireplaces to Waytair Amount paid by Waytair for advertising for fireplaces Number of fireplaces sold Selling price per fireplace Commission charged by Waytair Decor Ltd. to Illuminators| $ $ $ 58 979 4,445 2,029 44 1,631 10% $