On May 3, 2020, Sheffield Company consigned 90 freezers, costing $490 each, to Remmers Company. The cost of shipping the

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On May 3 2020 Sheffield Company Consigned 90 Freezers Costing 490 Each To Remmers Company The Cost Of Shipping The 1 (30.46 KiB) Viewed 23 times

On May 3, 2020, Sheffield Company consigned 90 freezers, costing $490 each, to Remmers Company. The cost of shipping the freezers amounted to $850 and was paid by Sheffield Company. On December 30, 2020, 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 O 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 $ 1 (c) Compute the amount of cash that will be remitted by the consignee. Remittance from consignee $