Question

On 1st April, 2020, Yogesh consigned 500 toys at the rate of ₹350 to Umesh to Agra and incurred following expense on consignment : Cartage ₹500, Frieght ₹2,000 and Insurance ₹2,500. The expenses incurred by Umesh were cartage ₹1,500, unloading ₹1,000 and ₹2,500 godown rent. On 31st March, 2021, an account sale was received from Umesh showing 450 toys wer sold at 1,000 per toy and 50 toys remained unsold. As per agreement 5% commission on sales will be payable to Umesh. Prepare Consignment A/c Showing Valuation of Consignment Stock.​ 1 SEE ANSWER

Answer 1

Answer:

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