On August 7, Jovic Corp. shipped 800 units of Product 24-A to Smart Corp. on consignment. The cost of the inventory to Jovic was $80.00 per unit. Jovic also paid $1,600 to ship the inventory to Smart. On December 31, Smart notified Jovic that 720 of the units had been sold, for $145.00 each, and remitted $88,740, which was the gross amount less Smart's 15% commission. The total gross profit on the units sold for the Jovic is Group of answer choices $88,740 $29,540 $31,140 $46,800 $29,700