Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Case 1 The CC Manufacturing Company delivered ten DVD players to CLTV Company on consignment. These DVD player cost P3,000 each and are to be
Case 1 The CC Manufacturing Company delivered ten DVD players to CLTV Company on consignment. These DVD player cost P3,000 each and are to be sold at P5,000 each. The CC Manufacturing Cepaid shipment cost of P2,500. CLTV Co. submitted an account sales stating that it had returned one unit and was remitting P21,900. This amount represents the total amount due to CC Manufacturing Co. after deducting the following from the selling price of the DVD player sold: Commission 20% of selling price Advertising P1,000 Delivery and Installation P600 Cartage on consigned goods P500 Required: 1. 2. The number of units sold by TV Co. is: The profit (loss) on consignment realized by CC Manufacturing Company is: The cost of inventory in the hands of CLTV Company is: 3
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started