Accounting Dictionary

Consignor

A person who puts his merchandise in someone else’s store to be sold.

For example, Mary makes scarves. She tried to sell her scarves to the local department store, but they didn’t want them. Mary said, “What if I bring these scarves to your store with a price tag of $20. If they sell, you pay me $12 per scarf and keep the rest of the money for yourself. If they don’t sell, I’ll take the merchandise back. What do you have to lose?” If the store agrees, Mary would be a consignor because Mary owns the unsold goods, not the store owner.

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