Question
On May 31, 2020, Carla Vista Company consigned 120 freezers, costing $500 each, to Martinez Company. The cost of shipping the freezers amounted to $660
On May 31, 2020, Carla Vista Company consigned 120 freezers, costing $500 each, to Martinez Company. The cost of shipping the freezers amounted to $660 and was paid by Carla Vista Company. On December 30, 2020, a report was received from the consignee, indicating that 60 freezers had been sold for $810 each. Remittance was made by the consignee for the amount due after deducting a commission of 8%, advertising of $420, and total installation costs of $490 on the freezers sold.
Calculate the inventory value of the units unsold in the hands of the consignee.
Inventory value of units unsold | $ |
eTextbook and Media
Calculate the profit for the consignor for the units sold.
Profit on consignment sales | $ |
Calculate the amount of cash that will be remitted by the consignee.
Remittance from consignee | $ |
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