Question

name the items which are recorded at the invoice price in the consignment account. give reasons for consigning the goods at the invoice price.

Answer 1

Invoice price Consigning aims to achieve the following objectives:- 
It is a cost-effective method of pricing with onus of cost for storage and transport or handling - upon the immediate purchaser or the end-user. Maximize profit at the new sale price for old stock and thereby have fresh inventory in the seller's warehouse which normally fetch or attract customers in general. 

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