On May 31, 2023, Sandhill Company consigned 90 freezers, costing $700 each, to Blossom Company. The cost of shipping the freezers amounted to $600 and was paid by Sandhill. On December 30, 2023, a report was received from the consignee, indicating that 45 freezers had been sold for $590 each. Remittance was made by the consignee for the amount due after deducting a commission of 4%, advertising of $290, and total installation costs of $270 on the freezers sold. (a) Calculate the inventory value of the units unsold in the hands of the consignee. Inventory value of units unsold $ eTextbook and Media

On May 31, 2023, Sandhill Company consigned 90 freezers, costing $700 each, to Blossom Company. The cost of shipping the freezers amounted to $600 and was paid by Sandhill. On December 30, 2023, a report was received from the consignee, indicating that 45 freezers had been sold for $590 each. Remittance was made by the consignee for the amount due after deducting a commission of 4%, advertising of $290, and total installation costs of $270 on the freezers sold. (a) Calculate the inventory value of the units unsold in the hands of the consignee. Inventory value of units unsold $ eTextbook and Media

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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Question

On May 31, 2023, Sandhill Company consigned 90 freezers, costing $700 each, to Blossom Company. The cost of shipping the freezers
amounted to $600 and was paid by Sandhill. On December 30, 2023, a report was received from the consignee, indicating that 45
freezers had been sold for $590 each. Remittance was made by the consignee for the amount due after deducting a commission of 4%.
advertising of $290, and total installation costs of $270 on the freezers sold.
(a)
Calculate the inventory value of the units unsold in the hands of the consignee.
Inventory value of units unsold
eTextbook and Media
N
$

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