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How much is the cost of inventory held by the consignee

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Cain Company consigned 100 freezers costing P50,000 each to SM Company on January 2, 2021. The cost of shipping the freezers amounted to P85,000 and was paid by Cain. On January 31, a report was received from the consignee indicating that 60 of the freezers had been sold for P75,000 each. Remittance was made by the consignee for the amount due after deducting a commission of 10%, advertising of P20,000, installation cost of P32,000 and shipping costs for the 10 defective units of P15,000.

1. How much is the Cash Remittance?

2. How much is the Consignment Income (Loss)?

3. How much is the cost of inventory held by the consignee?

Reference no: EM133205822

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