Answered

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Irene Corp consigned ten bags to Aileen Inc. These bags had a cost of P10,800 each. Freight on the shipments amounting to P7,200 was paid by Irene Corp. Aileen submitted an account sales stating that it has sold six bags and remitted cash amounting P81,900 to Irene Corp. after deducting the following: Commission, 15%% of selling price (unknown); Selling expenses 5,400; Delivery and installation of items sold 3,600; Cartage cost upon receipt of consigned goods 900. What is the cost of inventory on consignment in the hands of Aileen Inc?
a. P46,080
b. P43,200
c. P66,600
d. P46,440

Sagot :

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