Solution for QID #5150: On May 3, 2020, Waterway Company consigned 90 freezers, cost | StudyHelpMe

On May 3, 2020, Waterway Company consigned 90 freezers, costing $450 each, to Remmers Company. The cost of shipping the freezers amounted to $830 and was paid by Waterway Company. On December 30, 2020, a report was received from the consignee, indicating that 45 freezers had been sold for $820 each. Remittance was made by the consignee for the amount due after deducting a commission of 6%, advertising of $180, and total installation costs c. $32 on the freezers sold. (Round answers to 0 decimal places, eg. 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 $