dollars (b) Compute the profit for the consignor for the units sold. Profit on consignment sales $enter the profit on consignment sales in dollars (c) Compute the amount of cash that will be remitted by the consignee.
On May 3, 2020, Tamarisk Company consigned 80 freezers, costing $490 each, to Remmers Company. The cost of shipping the freezers amounted to $870 and was paid by Tamarisk Company. On December 30, 2020, a report was received from the consignee, indicating that 40 freezers had been sold for $670 each. Remittance was made by the consignee for the amount due after deducting a commission of 6%, advertising of $210, and total installation costs of $300 on the freezers sold.
(Round answers to 0 decimal places, e.g. 5,275.)
(a) Compute the inventory value of the units unsold in the hands of the consignee.
| Inventory value |
$enter the inventory value in dollars
|
(b) Compute the profit for the consignor for the units sold.
| Profit on consignment sales |
$enter the profit on consignment sales in dollars
|
(c) Compute the amount of cash that will be remitted by the consignee.
| Remittance from consignee |
$enter the amount of cash that will be remitted by the consignee rounded to 0 decimal places
|
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