On May 3, 2020, Grouper Company consigned 80 freezers, costing $540 each, to Remmers Company....
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On May 3, 2020, Grouper Company consigned 80 freezers, costing $540 each, to Remmers Company. The cost of shipping the freezers amounted to $920 and was paid by Grouper Company. On December 30, 2020, a report was received from the consignee, indicating that 40 freezers had been sold for $690 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 $350 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 $ e Textbook and Media
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