Question: On May 3 , 2 0 2 5 , Cullumber Company consigned 7 0 freezers, costing $ 4 9 0 each, to Bonita Company. The

 On May 3,2025, Cullumber Company consigned 70 freezers, costing $490 each,

On May 3,2025, Cullumber Company consigned 70 freezers, costing $490 each, to Bonita Company. The cost of shipping the freezers amounted to $920 and was paid by Cullumber Company. On December 30,2025, a report was received from the consignee, indicating that 35 freezers had been sold for $780 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.
(a)
Compute the inventory value of the units unsold in the hands of the consignee at the end of 2025.(Do not round intermediate calculations. Round answers to 0 decimal places, e.g.5,275.)
Inventory value $
to Bonita Company. The cost of shipping the freezers amounted to $920

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!