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2 years ago

Spencer Company consigned 88 freezers, costing $490 each, to Remmers Company.

Business

1 answer:

nata0808 [166]2 years ago

6 0

Answer:

Inventory in consignee: $ 22,005

Consignor profit: $ 6,810.6

Explanation:

We must remember that the goods cost is the sum of all it was needed to get the inventory ready for sell:

consigned goods: 88 x 490 = 43,120

shipping cost 890

Total Cost for Spencer 44,010

44,010 /88 freezers x 44 freezers at hand: 22,005

profit on the consignor:

sales revenue 44 x 710 = 31,240

commission 6% (1,874.4)

cost of good sold

44,010 / 88 x 44 freezers sold: (22,005)

advertising (240)

installation cost (310)

Profit 6,810.6

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