On May 3, 2020, Concord Company consigned 80 freezers, costing $540 each, to Remmers Company. The cost of shipping the freezers amounted to $820 and was paid by Concord Company. On December 30, 2020, a report was received from the consignee, indicating that 40 freezers had been sold for $700 each. Remittance was made by the consignee for the amount due after deducting a commission of 6%, advertising of $180, and total installation costs of $350 on the freezers sold.
Required:
(Round answers to 0 decimal places, e. g. 5,275.)
(a) Compute the inventory value of the units unsold in the hands of the consignee.
(b) Compute the profit for the consignor for the units sold.
(c) Compute the amount of cash that will be remitted by the consignee.
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