consignment Gooch Company. Jansen paid freight Jansen Corporation shipped $20,000 of merchandise on to costs of $2,000. Gooch Company paid $500 for local advertising, which is reimbursable from Jansen. By year-end 60% of the merchandise had been sold for $21,500. Gooch notified Jansen, retained a 10% commission, and remitted the cash due to Jansen. Required: 1. Compute the inventory value of the units unsold in the hands of the consignee 2. Compute the profit for the consignor for the units sold. Provide journal entries for Consignor and Consignee, respectively, to record the notification of sales and remittance of amount due to Consignor 3. Jansen Corporation (Consignor Gooch Company (Consignee)