Question
On August 15, 2020, Japan Ideas consigned 800 electronic play systems, costing $110 each, to YoYo Toys Company. The cost of shipping the play systems
On August 15, 2020, Japan Ideas consigned 800 electronic play systems, costing $110 each, to YoYo Toys Company. The cost of shipping the play systems amounted to $1,200 and was paid by Japan Ideas. On December 31, 2020, an account sales summary was received from the consignee, reporting that 420 play systems had been sold for $170 each. Remittance was made by the consignee for the amount due, after deducting a 20% commission.
Calculate the inventory value of the units unsold in the hands of the consignee at December 31, 2020.
Inventory value of the units unsold | $enter the Inventory value of the units unsold in dollars |
eTextbook and Media
Calculate the profit for the consignor for the units sold at December 31, 2020.
Profit | $enter the profit in dollars |
eTextbook and Media
Calculate the amount of cash that will be remitted by the consignee at December 31, 2020.
Remittance | $enter the Remittance in dollars |
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