ENABLING ASSESSMENT

1. The following information relate to the consigned goods of Papi Co. to Mami Co.

Merchandise shipped (10 units) P10,000

Shipping cost on the transfer of goods 400

from Papi to Mami

Sales (6 units) 12,000

Returns (2 units) 2,000

Charges to Consignee:

Freight in 500

20% commission 2,400

Advertising 1,000

Freight for returns 200

● The cost of inventory on consigned goods is

2180

● The profit realized by the consignor on the consignment is

1680

● The amount of remittance by the consignee is

7900

2. Agbayani Co. consigned to Olano Marketing thee following merchandise:

Costs Freight

10 units of Samsung TV 30,000 1,000

5 units of LG DVD Player 27,500 500

One month after, the consignee rendered an account sales as follows:

TV Sets DVD Player

Number of units sold 7 3

Sales 28,,000 21,000

Less: Commission 2,800 2,100

Cartage In 350 150

Remittance 25,850 18,750

● The profit or loss on consignment on the Samsung TV sets is ______
3255

● The cost of inventory in the hands of the consignee is _______

20665