On December 1, year 2, Alt Department Store received 505 sweaters on consignment from Todd. Todd’s..
On December 1, year 2, Alt Department Store received 505 sweaters on consignment from Todd. Todd’s cost for the sweaters was $80 each, and they were priced to sell at $100. Alt’s commission on consigned goods is 10%. At December 31, year 2, five sweaters remained. In its December 31, year 2 balance sheet, what amount should Alt report as payable for consigned goods? a. $49,000 b. $45,400 c. $45,000 d. $40,400 Apr 26 2022 01:32 PM
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