Compute the profit for the consignor for the units sold

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Reference no: EM132707650

On May 30, 2018, Sandy and Nino Group consigned 80 freezers to, costing P50,000 each, to Val and Rogelio Company. The cost of shipping the freezers amounted to P84,000 and was paid by Sandy and Nino Group. On December 30, 2018, a report was received from the consignee, indicating that 40 freezers had been sold for P75,000 each. Remittance was made by the consignee for the amount due after deducting a commission of 6%, advertising of P20,000, and total installation costs of P32,000 on the freezers sold.

Required:

Question a. Compute the inventory value of the units unsold in the hands of the consignee

Question b. Compute the profit for the consignor for the units sold.

Question c. Compute the amount of cash that will be remitted by the consignee.

Reference no: EM132707650

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