On May 3, 2020, Sweet Company consigned90freezers, costing $480each, to Remmers Company. The cost of shipping the
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Question:
On May 3, 2020, Sweet Company consigned90freezers, costing $480each, to Remmers Company. The cost of shipping the freezers amounted to $850and was paid by Sweet Company. On December 30, 2020, a report was received from the consignee, indicating that45freezers had been sold for $780each. Remittance was made by the consignee for the amount due after deducting a commission of6%, advertising of $210, and total installation costs of $330on the freezers sold.
- Compute the inventory value of the units unsold in the hands of the consignee.
Inventory value?. Compute the profit for the consignor for the units sold.
Profit on consignment sales?. Compute the amount of cash that will be remitted by the consignee. Remittance from consignee?
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