On August 15, 2022, Didgeridoo consigned 500 electronic play systems, costing $100 each, to Toys R U Company. The cost of shipping the play systems amounted to $1,250 and was paid by Didgeridoo. On December 31, 2022, an account sales summary was received from the consignee, reporting that 420 play systems had been sold for $160 each. Remittance was made by the consignee for the amount due, after deducting a 20% commission. Calculate the following at December 31, 2022. Required The inventory value of the units unsold in the hands of the consignee The profit for the consignor for the units sold. The amount of cash that will be remitted by the consignee.

On August 15, 2022, Didgeridoo consigned 500 electronic play systems, costing $100 each, to Toys R U Company. The cost of shipping the play systems amounted to $1,250 and was paid by Didgeridoo. On December 31, 2022, an account sales summary was received from the consignee, reporting that 420 play systems had been sold for $160 each. Remittance was made by the consignee for the amount due, after deducting a 20% commission. Calculate the following at December 31, 2022. Required The inventory value of the units unsold in the hands of the consignee The profit for the consignor for the units sold. The amount of cash that will be remitted by the consignee.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section: Chapter Questions

Problem 11P

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