Question
On May 3, 2017, Oriole Company consigned 90 freezers, costing $520 each, to Remmers Company. The cost of shipping the freezers amounted to $820 and
On May 3, 2017, Oriole Company consigned 90 freezers, costing $520 each, to Remmers Company. The cost of shipping the freezers amounted to $820 and was paid by Oriole Company. On December 30, 2017, a report was received from the consignee, indicating that 45 freezers had been sold for $690 each. Remittance was made by the consignee for the amount due after deducting a commission of 6%, advertising of $210, and total installation costs of $340 on the freezers sold. (Round answers to 0 decimal places, e.g. 5,275.) (a) Compute the inventory value of the units unsold in the hands of the consignee. Inventory value $Entry field with incorrect answer now contains modified data (b) Compute the profit for the consignor for the units sold. Profit on consignment sales $Entry field with incorrect answer (c) Compute the amount of cash that will be remitted by the consignee. Remittance from consignee
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