Asked by April Capozzi on May 25, 2024
Verified
Compute the commission and net proceeds for each sale on consignment.
Net Proceeds
The amount sent to the consignor as a result of consignment sales; gross proceeds minus charges.
Commission
A fee or percentage given to a salesperson, agent, or broker for facilitating or completing a sale or transaction.
Consignment
Goods from a producer to a commission merchant for sale at the best possible price.
- Derive net proceeds from sales after accounting for commissions.
Verified Answer
DW
Learning Objectives
- Derive net proceeds from sales after accounting for commissions.
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