WHAT IS THE AMOUNT OF THE CONSIGNMENT INCOME

Monster Co. submits the following information on account sales: Account Sales: November 30, 2010 Sales by Monster Co. for the account of Copper Co. Date Particulars Amount Nov 1-30 Sales: 4 metal sheets @ 3,000 P12,000 On hand: 6 metal sheets Freight-in P2,000 Commission (25% of sales) 3,000 5,000 Remittance enclosed P 7,000 The cost of each unit to the consignor is P1,400. Both the consignee and the consignor take physical inventories at year-end in calculating Cost of Goods Sold