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Determine the total inventory and revenue value reported

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Question - Oriental Rug Company ships six handmade rugs valued at $5,000 each on consignment to Consign Design. Oriental Rug Company pays $1,000 of shipping costs and agrees to accept the return of any rugs within six months of the shipping date. Oriental Rug Company also agrees to pay Consign Design a commission of 10 percent for any rug sold. At the end of five months, Consign Design has sold four of the rugs for a total price of $38,000. Determine the total inventory and revenue value reported by Consign Design at the end of the five months?

Reference no: EM133151840

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