current attempt in progress\ncecil gives goods on consignment to jerry who agrees to try to sell them for a…

current attempt in progress\ncecil gives goods on consignment to jerry who agrees to try to sell them for a 20% commission. at the end of the accounting period, which of the following parties includes the consigned goods in its inventory?\n○ cecil\n○ jerry\n○ both cecil and jerry\n○ neither cecil nor jerry

current attempt in progress\ncecil gives goods on consignment to jerry who agrees to try to sell them for a 20% commission. at the end of the accounting period, which of the following parties includes the consigned goods in its inventory?\n○ cecil\n○ jerry\n○ both cecil and jerry\n○ neither cecil nor jerry

Answer

Brief Explanations:

In a consignment arrangement, the consignor (Cecil) retains ownership of the goods until they are sold. Jerry, as the consignee, is only responsible for selling the goods on behalf of Cecil and does not own them. Inventory is reported by the owner of the goods.

Answer:

Cecil