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How much is goods sent on consignment in transaction made

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Swift sent on 1st July, 2017 to Ed goods costing P50,000 and spent P1,000 on trucking etc. On 3rd July, 2017, Ed received the goods and sent his acceptance to Swift. Ed spent P2,000 on freight and cartage, ' P500 on go down rent and P300 on insurance. On 31st of December, 2017 he sent his report showing that 4/5 of the goods had been sold for P55,000. Ed is entitled to a commission of 10%. One of the customers availed discount of P600 which were not yet deducted from P55,000 sales.

Problem 1. How much is the goods sent on consignment in transaction made on January 1, 2017

A. 30,000 B. 51,000 C. 53,000 D. 50,000

Problem 2. What is the amount of the goods consigned that remained unsold?

A. 10,000 B. 10,200 C. 10,400 D. 10,600

Problem 3. How much is the Swift's consignment profit on 2017?

A. 11,200 B. 12,000 C. 5,700 D. 5,100

Reference no: EM132826943

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