On May 3, 2017, Flounder Company consigned 90 freezers, costing $490 each, to Remmers Company....
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On May 3, 2017, Flounder Company consigned 90 freezers, costing $490 each, to Remmers Company. The cost of shipping the freezers amounted to $850 and was paid by Flounder Company. On December 30, 2017, a report was received from the consignee, indicating that 45 freezers had been sold for $730 each. Remittance was made by the consignee for the amount due after deducting a commission of 6%, advertising of $200, and total installation costs of $310 on the freezers sold. (Round answers to 0 decimal places, e.g. 5,275.) (a) Compute the inventory value of the units unsold in the hands of the consignee. Inventory value (b) Compute the profit for the consignor for the units sold. Profit on consignment sales (c) Compute the amount of cash that will be remitted by the consignee. Remittance from consignee
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