On June 1, DD Company shipped twenty five DVD to BB View Store on consignment. The DVD is to be sold at an advertised price of P200 per item. The cost of each DVD to the consignor is P100. The consignor paid P75 to ship the merchandise. Commission is to be 25% of sales price. During the month, two DVD were returned. On June 30, BB View Store remitted the amount due to consignor after deducting commission of P400. The cost of inventory on consignment amounted to:

On June 1, DD Company shipped twenty five DVD to BB View Store on consignment. The DVD is to be sold at an advertised price of P200 per item. The cost of each DVD to the consignor is P100. The consignor paid P75 to ship the merchandise. Commission is to be 25% of sales price. During the month, two DVD were returned. On June 30, BB View Store remitted the amount due to consignor after deducting commission of P400. The cost of inventory on consignment amounted to:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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