May I ask for with this question. you! (The following solutions below are additional solutions I’ve done to compute for the answer.) (Refer to the

May I ask for with this question. you! (The following solutions below are additional solutions I’ve done to compute for the answer.) (Refer to the photo for the problem) The profit/loss on consignment on underwear: Remittance 7,500 Charges by consignor Cost (7,680 x  30/38) 4,800 Freight and handling (2,000 x 30/48) 1,250 Freight by consignee 150 6,200 Net Income 1,300 The cost of the inventory in the hands of the consignee: T – Shirts Costs (7,680 x 18/48) 2,880 Freight and handling (2,000 x 18/48) 750 Baby dresses Cost (4,800×4/24) 800 Freight and handling (1,080×4/24) 180 980 4,610 Disregard the computation of amount remitted. REQUIRED: COMPUTE FOR THE CONSIGNMENT PROFIT The consignment out account of Jackie Department Store is shown below: CONSIGNMENT OUT For goods shipped to consigner: For account sales by consigner: Cost of 24pcs. boys’ clothes P4,800 20 pcs. boys’ clothes P6,300 Cost of 48pcs. underwear 7,680 30 pcs. underwear 7,500 Freight and handling costs: Boys’ clothes 1,080 Underwear 2,000 The commission on both types o goods was 15% of the selling price. All of the account sale were accompanied by checks for correct amounts. There is one account sale on hand which had not been recorded on the books of Jackie. It shows that no consigned goods had been sold but the freight and handling costs of P150 applicable to underwear had been incurred by the consignee.

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