Question
TNC Manufacturing Corporation consigned ten refrigerators to Liquid Company. These refrigerators had a cost of P 180 each. Freight on the shipment was paid by
TNC Manufacturing Corporation consigned ten refrigerators to Liquid Company. These refrigerators had a cost of P 180 each. Freight on the shipment was paid by TNC in the amount of P 120. Liquid Company submitted an account sales stating that it had sold six refrigerators and remitted the P 1,365 balance due TNC after the following deductions from the selling price of the refrigerators: Commission 15% of selling price Marketing expenses P 90 Delivery and installation of items sold P 60 Cartage cost paid upon receipt of consignment P 15 REQUIRED:
1. The consignee sold the 6 refrigerators for a total of
2. The commission earned on the sale of the 6 refrigerators was
3. The consignor's net profit from the sale of the consigned goods was
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