A Co. Ltd., manufacturers and dealers in edible oil, consigned to their Bangalore agent, 250 crates of oil (each crate containing 12 one-kilo sachets) in March, 2012. The consignment was sent at 20% over the cost price of Rs 120 per kilo. A bill was drawn on the agent for 80% of the value of the consignment which was met on presentation. Expenses incurred by the company by way of freight and insurance came to Rs 12,000 explanation of this question