A Consignor shipped 100 units of its inventories to the consignee on consignment. Each unit costs. P450 and has a standard retail price of P750. The 100 units had a freight-in charge of P3,750. After a month, the consignee returned 10 units of inventory and remitted P32,850 to the consignor with an account sales with the following items included: • Commission of 20% • Cartage on consigned goods, P750 • Marketing expenses, P1,500 Delivery to customer and installation, P900. -How many units were sold by the consignee?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A Consignor shipped 100 units of its inventories to the consignee on consignment. Each unit costs. P450 and has a standard retail price of P750. The 100 units had a freight-in charge of P3,750. After a month, the consignee returned 10 units of inventory and remitted P32,850 to the consignor with an account sales with the following items included:

• Commission of 20%

• Cartage on consigned goods, P750

• Marketing expenses, P1,500

Delivery to customer and installation, P900.

-How many units were sold by the consignee?

-How much is the cost of inventory still on consignment at the end of the month?

-How much is the total consignment profit (loss) by the consignor? 

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