Spencer Company consigned 88 freezers, costing $490 each, to Remmers Company.
The cost of shipping the freezers amounted to $890 and was paid by Spencer Company.
On December 30, 2015, a report was received from the consignee, indicating that 44 freezers had been sold for $710 each.
Remittance was made by the consignee for the amount due, after deducting a commission of 6%, advertising of $240, and total installation costs of $310 on the freezers sold.
(a) Compute the inventory value of units unsold in the hands of the consignee.
(b) Compute the profit for the consignor for the units sold.
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