On May 3, 2014, Eisler Company consigned 104 freezers, costing $670 each, to Rem

Question

On May 3, 2014, Eisler Company consigned 104 freezers, costing $670 each, to Remmers Company. The cost of shipping the freezers amounted to $870 and was paid by Eisler Company. On December 30, 2014, a report was received from the consignee, indicating that 52 freezers had been sold for $940 each. Remittance was made by the consignee for the amount due after deducting a commission of 6%, advertising of $260, and total installation costs of $330 on the freezers sold. Part (a) Compute the inventory value of the units unsold in the hands of the consignee. (Round answer to 0 decimal places, e.g. 5,275.)

Explanation / Answer

Calculation of the amount of cost that will be remitted by the consignee Freezers Sold 52@940 48880 Commission 6% -2932.8 Advertising -260 Installation -330 Amount remitted 45357.2 the amount of cost that will be remitted by the consignee is $ 45357.20

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