On May 3, 2025, Oriole Company consigned 100 freezers, costing $510 each, to Blue Spruce Company. The cost of shipping thefreezers 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 acommission of 7%, advertising of $180, and total installation costs of $310 on the freezers sold.(a)Compute the inventory value of the units unsold in the hands of the consignee at the end of 2025. (Do not round intermediatecalculations. Round answers to O decimal places, e.g. 5,275.)Inventory value$eTextbook and MediaSave for LaterAttempts: unlimited Submit Answer

Explanation: Inventory value will be the cost of inventory unsold in hands of consignee and the cost…

Answered: On May 3, 2025, Oriole Company…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter17: Advanced Issues In Revenue Recognition

Section: Chapter Questions

Problem 6MC

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am. 111.
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