## Answers

**Answer:**

Inventory value of Unsold units: | |||||

Cost of units sent (750*100) | 75000 | ||||

Add: Shipping cost | 1500 | ||||

Total Cost of inventory | 76500 | ||||

Divide: Total Units sent | 750 | ||||

Cost per unit | 102 | ||||

Multiply: Units unsold (750-420) | 330 | ||||

Inventory value of Unsold units: | 33660 | ||||

Profit on Consignment: | |||||

Sales revenue of 420 units*150 | 63000 | ||||

Less: Cost of 420 units @102 | 42840 | ||||

Gross profit | 20160 | ||||

Less: Commission (63000*20%) | 12600 | ||||

Net Income on Consignment | 7560 | ||||

Cash to be remitted by consignee: | |||||

Sales revenue collected | 63000 | ||||

Less: Commission deducted | 12600 | ||||

Cash to be remitted by consignee: | 50400 | ||||

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