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On May 3, 2025, Oriole Company consigned 100 freezers, costing $510 each, to Blue Spruce Company. The cost of shipping the freezers amounted to $920 and was paid by Oriole Company. On December 30, 2025, a report was received from the consignee, indicating that 50 freezers had been sold for $740 each. Remittance was made by the consignee for the amount due after deducting a commission of 7%, advertising of $180, and total installation costs of $310 on the freezers sold. (a) Compute the inventory value of the units unsold in the hands of the consignee at the end of 2025. (Do not round intermediate calculations. Round answers to O decimal places, e.g. 5,275.) Inventory value $ eTextbook and Media Save for Later Attempts: unlimited Submit Answer

On May 3, 2025, Oriole Company consigned 100 freezers, costing $510 each, to Blue Spruce Company. The cost of shipping the freezers amounted to $920 and was paid by Oriole Company. On December 30, 2025, a report was received from the consignee, indicating that 50 freezers had been sold for $740 each. Remittance was made by the consignee for the amount due after deducting a commission of 7%, advertising of $180, and total installation costs of $310 on the freezers sold. (a) Compute the inventory value of the units unsold in the hands of the consignee at the end of 2025. (Do not round intermediate calculations. Round answers to O decimal places, e.g. 5,275.) Inventory value $ eTextbook and Media Save for Later Attempts: unlimited Submit Answer

FINANCIAL ACCOUNTING
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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On May 3, 2025, Oriole Company consigned 100 freezers, costing $510 each, to Blue Spruce Company. The cost of shipping the freezers amounted to $920 and was paid by Oriole Company. On December 30, 2025, a report was received from the consignee, indicating that 50 freezers had been sold for $740 each. Remittance was made by the consignee for the amount due after deducting a commission of 7%, advertising of $180, and total installation costs of $310 on the freezers sold. (a) Compute the inventory value of the units unsold in the hands of the consignee at the end of 2025. (Do not round intermediate calculations. Round answers to O decimal places, e.g. 5,275.) Inventory value $ eTextbook and Media Save for Later Attempts: unlimited Submit Answer
Transcribed Image Text:On May 3, 2025, Oriole Company consigned 100 freezers, costing $510 each, to Blue Spruce Company. The cost of shipping the freezers amounted to $920 and was paid by Oriole Company. On December 30, 2025, a report was received from the consignee, indicating that 50 freezers had been sold for $740 each. Remittance was made by the consignee for the amount due after deducting a commission of 7%, advertising of $180, and total installation costs of $310 on the freezers sold. (a) Compute the inventory value of the units unsold in the hands of the consignee at the end of 2025. (Do not round intermediate calculations. Round answers to O decimal places, e.g. 5,275.) Inventory value $ eTextbook and Media Save for Later Attempts: unlimited Submit Answer
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