Answers
Over the years, move and countermove have been used to numerous areas of economics and have aided in the development of straightforward models for intricate economic scenarios.
The subject of international trade is one area where these models have proven to be quite helpful. This essay is an overview of game theoretical models used in international trade analysis for difficult trade negotiations, trade wars, and trade policy.
The research also examined game theory applications to the US-China trade conflict. Nearly all significant game theory models that have been helpful in determining optimal outcomes and assisting nations in making the greatest trade policy decisions have been reviewed in this essay.
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Related Questions
The terms Entrepreneur and Manager is used interchangeable and describes a person that which is a correct answer
a) Manages a small business
b) That starts up a small business
c) That starts up and manages a small business
d) All above statements are incorrect
Answers
The correct answer is d) All above statements are incorrect.
While an entrepreneur and a manager share some similarities in their roles within a business, they are not interchangeable terms. Each term represents a distinct role and set of responsibilities.
An entrepreneur is an individual who identifies opportunities, takes risks, and initiates the process of starting a new business venture. They are typically involved in the creation and development of the business idea, gathering resources, and making strategic decisions to bring the business concept to fruition.
On the other hand, a manager is responsible for overseeing and directing the day-to-day operations of a business. They focus on organizing resources, implementing plans, coordinating activities, and managing employees to achieve the organization's goals. Managers are typically appointed or hired to handle specific functions within an existing business.
Therefore, while an entrepreneur may start a small business, and a manager may be responsible for managing a small business, the terms "entrepreneur" and "manager" represent different roles and responsibilities within the business context.
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which of these industries is among the fastest growing today?
Answers
Today, the health care industry is among the fastest growing today. The Option B is correct.
Why is health care industry fast growing?Medical advances and advancements in medicine and technology have a significant impact on the growth of the healthcare industry, affecting demand for healthcare services.
All these creates more opportunities for workers who are required to provide these services. Those with a master's degree in healthcare management will have many opportunities to fill these positions.
Missing options " A. the Postal Service B. health care C. manufacturing D. education
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The market structure of the local pizza industry is best characterised by monopolistic competition. Pizza Shack is one of the producers in the local market. The market demand for Pizza Shack is: Qd = 225 – 10P. Pizza Shack’s cost function is: C(Q) = 0.15Q^2 Where Q^2 refers to q squared 3. Derive the total revenue equation:
Answers
The total revenue equation for Pizza Shack is $810.
To derive the total revenue equation for Pizza Shack, we need to use the demand equation and the price equation. The price equation is derived from the cost function, which is C(Q) = 0.15\(Q^{2}\).
To find the marginal cost, we need to take the derivative of the cost function with respect to Q, which is:
MC = 0.3Q
Now, to find the optimal price and quantity that Pizza Shack should produce, we need to set the marginal cost equal to the marginal revenue. In monopolistic competition, the marginal revenue is the change in total revenue when one more unit is sold, which is given by the derivative of the total revenue equation.
The demand equation for Pizza Shack is:
Qd = 225 – 10P
To find the price equation, we need to solve for P:
Qd = Qs
225 – 10P = Q
P = (225 – Q)/10
Now, we can plug in the price equation and the cost function into the revenue equation, which is:
TR = P x Q.
TR = (225Q – \(Q^{2}\))/10
To find the optimal quantity, we set the marginal cost equal to the marginal revenue:
MC = MR
0.3Q = (225 – 2Q)/10
3Q = 225 – 2Q
5Q = 225
Q = 45
Now that we have the optimal quantity, we can plug it back into the price equation to find the optimal price:
P = (225 – Q)/10
P = (225 – 45)/10
P = 18
Therefore, the total revenue equation for Pizza Shack is:
TR = P x Q
TR = 18 x 45
TR = $810
In conclusion, the total revenue equation for Pizza Shack is $810, and it is derived from the demand equation and the price equation, which are both based on the market structure of monopolistic competition.
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Given the different perspectives of diverse groups regarding international trade, on what should national trade policy be based
Answers
Answer:
The vast majority of economic perspectives on international trade agree in that international agree is mutually benefitial for all countries. The reason is that international trade allows each country to specialize in the production of those goods and services for which they have a comparative advantage.
However, it is also true that from a social and political perspective, there are many more disagreements. For example, it is true that while international trade benefits most of the population as a whole, some sectors of the population are sometimes negatively affected by its effects.
For this reason, the approach to international trade should be: engage in trade with as many countries as possible, making sure that those groups who become disadvantaged by its effects are supported by a social safety net, and by training programs that can help them find other jobs.
XYZ Co. manufactures bicycles. Demand for this year’s model is expected to occur at a constant annual rate of 9200 items. One bicycle costs $165. The holding cost is based on a 6% annual rate, and production setup costs are $420. The manufacturing plant has an annual production capacity of 16000 units. Acme has 280 working days per year, and the lead time for a production run is 3 days. Use the production lot size model to compute the following values:
a) Minimum cost production lot size
b) Number of production runs per year
c) Cycle time
d) Length of a production run
e) Maximum inventory
f) Total annual cost
g) Reorder point
Answers
a) The minimum production lot size is 884 units,
b) The number of production runs per year is 10 runs.
c) The cycle time is 30 days (10 x 3)
d) The length of a production run is 3 days.
e) The Maximum inventory is 653 units.
f) The total annual cost is $1,523,180.
g) The Reorder point is 99 units (33 x 3).
What is the production lot size model?The production lot size model is the same as the economic order quantity model, which is given as the EOQ = square root of: [2(setup costs)(demand rate)] / holding costs
The model shows the production lot size that minimizes total costs.
Data and Calculatiaons:Annual demand = 9,200 units
Unit product cost = $165
Holding cost = $9.90 ($165 x 6%)
Setup costs = $420
Annual production capacity = 16,000 units
Working days per year = 280 days
Lead time for a production run = 3 days
EOQ = square root of: (2 x $420 x 9,200)/$9.90
= square root of 780,606
= 884 units
Production runs per year = 10 (9,200/884)
Daily demand = 33 units (9,200/280)
Total annual cost = ($165 x 9,200 + 99 x $9.90 + $420 x 10)
= $1,523,180 ($1,518,000 + $980. + $4,200)
Maximum inventory = Reordering Level + Reorder Quantity – (Minimum Consumption x Reorder period)
= 99 + 884 – (33 x 10)
= 653 units
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A company started the year with the following: Assets $107,000; Liabilities $37,000;
Common Stock $67,000; Retained Earnings $3,000.
During the year, the company earned revenue of $5,700, all of which was received in cash, and incurred expenses of $3,350, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $1,700 to owners. Assume no other activities occurred during the year.
Answers
The assumption of no other activities occurring during the year means that no new equity was raised, no new liabilities were incurred, and no assets were sold or disposed of, among other things.
To calculate the ending balance of Assets, Liabilities, Common Stock, and Retained Earnings, we can start by using the equation for stockholders' equity:
Stockholders' Equity = Assets - Liabilities
At the beginning of the year, the company's Stockholders' Equity was:
Stockholders' Equity = $107,000 - $37,000 = $70,000
Next, we need to calculate the change in Retained Earnings for the year. Retained Earnings can be calculated as follows:
Retained Earnings = Beginning Retained Earnings + Net Income - Dividends
Where Net Income is calculated as:
Net Income = Revenue - Expenses
Plugging in the numbers, we have:
Retained Earnings = $3,000 + ($5,700 - $3,350) - $1,700 = $2,650
So the ending balance of Retained Earnings is $2,650.
Finally, we can calculate the ending balance of Assets, Liabilities, and Common Stock using the following equation:
Assets = Liabilities + Stockholders' Equity
Plugging in the numbers, we have:
Assets = $37,000 + ($67,000 + $2,650) = $107,650
So the ending balance of Assets is $107,650.
Liabilities remain unchanged at $37,000.
Common Stock remains unchanged at $67,000.
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Gillie, Norma and Nancy are all partners in an architectural firm. They have no partnership agreement. Gillie contributed $120,000 to the firm and Norma and Nancy contributed $60,000 each. Norma works full-time in the partnership and Gillie and Nancy each work part-time. The partnership makes $120,000 in profits. How will the profits be divided among the partners
Answers
Answer:
Gillie: $40,000
Norma $40,000
Nancy: $40,000
Explanation:
Calculation for How will the profits be divided among the partners
Based on the information given the profit will be divided equally among the three of them.
Gillie profit=$120,000/3
Gillie profit=$40,000
Norma profit =$120,000/3
Norma profit =$40,000
Nancy profit=$120,000/3
Nancy profit=$40,000
Therefore How will the profits be divided among the partners is :Gillie: $40,000
Norma $40,000
Nancy: $40,000
What is the ability of a product to satisfy a customer
Answers
Answer:
utility is the ability of a product to satisfy human wants and needs.
Assuming Brokerage fees of $6000, calculate the amount of cash needed to retire Baldwin's 11.2S2024 bond early?Series# Face Yield Close$ S&P 11.2S2024 $5,675,277 11.6% 96.80 BBB A.) $5,499,668B.) $5,493,668C.) $5,675,277
Answers
Answer:
A. $5,499,668
Explanation:
Amount of cash needed to retire Baldwin's 11.2S2024 bond early = Market value + Brokerage
= ($5675277 * 96.80 /100) +$6000
= $5,493,668.136 + $6000
= $5,499,668.136
= $5,499,668
SunRay Foundation, a corporation owned and managed by volunteers, supplies medicines and vaccines to impoverished people in Asia and Africa. Its focus is not on earning a surplus but on serving the community. SunRay Foundation is an example of
Answers
Answer:
" Nonprofit corporation" is the right solution.
Explanation:
A non-profit corporation would be an organization constructed again for benefit of the community better, for compassionate or some other kind of government service primary motivations, instead of just merely to generate a financial gain on its own, as when the customer requested to be doing. The strongest reason for utilizing the whole degree of formal entity is that everything is responsible for claim federal and state taxes on just about any earnings the corporate entity receives, with exception of for corporate entities.How can you reduce your total loan cost?
Make interest payments while in school
Make interest and principal payments while in school
Make interest and principal payments during the grace period
Any of the above
Answers
The ways that you can reduce your total loan costs include paying interest while in school and during your grace period so the answer is Any of the above.
How can you reduce your total student loan cost?You can start off by making interest payments while you are still in school even though this isn't required. Also pay off principal payments if you can.
When you get out, try to pay interest and principal payments in your grace period. The reason for this is that you will reduce the interest that you have to pay per period which would be capitalized if not paid.
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Standard Product Cost, Direct Materials Variance
Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (2,500 pounds) has the following standards:
Standard Quantity Standard Price
Whole tomatoes 4,200 lbs. $0.45 per lb.
Vinegar 230 gal. $2.70 per gallon.
Corn syrup 20 gal. $10.00 per gal.
Salt 92 lbs. $2.50 per lb.
The actual materials in a batch may vary from the standard due to tomato characteristics. Assume that the actual quantities of materials for batch K-111 were as follows:
4,400 lbs. of tomatoes
221 gal. of vinegar
21 gal. of corn syrup
91 lbs. of salt
a. Determine the standard unit materials cost per pound for a standard batch.
b. Determine the direct materials quantity variance for batch K-111. If required, round amounts to the nearest cent.
Answers
Answer:
A. $1.18
B. Whole tomatoes $90 Unfavorable
Vinegar ($24.30) Favorable
Corn syrup $10 Unfavorable
Salt ($2.50) Favorable
Total direct materials quantity variance $73.20 Unfavourable
Explanation:
a. Calculation to Determine the standard unit materials cost per pound for a standard batch.
Ingredient Standard quantity* Standard price= Standard Cost per Batch
Whole tomatoes 4,200 lbs.*$0.45 per lb=$1,890
Vinegar 230 gal.*$2.70 per gallon=$621
Corn syrup 20 gal.*$10.00 per gal=$200
Salt 92 lbs.* $2.50 per lb=$230
Total $2,941
Standard unit materials cost per pound=$2,941/$2,500 Standard unit materials cost per pound=$1.18
Therefore the standard unit materials cost per pound for a standard batch $1.18
[b] Calculation to determine the direct materials quantity variance for batch K-111
Ingredient Standard quantity-Actual Quantity =Difference* Standard price= Materials Quantity Variance Favorable/Unfavorable
Whole tomatoes 4,200 lbs -4,400 lbs=200 lbs*$0.45=$90 UNFAVORABLE
Vinegar 230 gal- 221 gal=(9gal)*$2.70=($24.30) FAVORABLE
Corn syrup 20 gal-21 gal=1gal*$10=$10 UNFAVORABLE
Salt 92 lbs-91 lbs=(1lbs)*$2.50=($2.50)FAVOURABLE
Total direct materials quantity variance $73.20 Unfavourable
($90-$24.30+$10-$2.50)
Therefore the direct materials quantity variance for batch K-111 will be:
Whole tomatoes $90 Unfavorable
Vinegar ($24.30) Favorable
Corn syrup $10 Unfavorable
Salt ($2.50) Favorable
Total direct materials quantity variance $73.20 Unfavourable
In which class setting has research shown that students report feeling less threatened in reaching out for help from peers or their teacher?
No difference between the two
Online environment
Classroom environment
Answers
Research shown that students report feeling less threatened in reaching out for help in Online Environment.
Online Environment classroom can also be called a Virtual Learning Environment and this type of Learning is based on Web platform which allows interaction between the Tutors and Student.
This schools allows digital contact among the Student and Teachers either as part of school schedule or during Holiday.
Various research have shown that student are more likely to ask for help on their studies on Online Environment than in Physical Environment because they feel more confident Online than in Physical
Therefore, in conclusion, Option D is correct.
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It is also why businesses which produce goods or services of a specialized kind,which appeal only to limited number of consumers such as very luxurious car or expensive fashion clothing _____?
Answers
Because business has always been an important part of the economy. And in the economy, both people who need luxury and who does not.
Who is a consumers?Consumers are those who buy products for their own needs and use or consume them. Although a customer cannot resell the good, product, or service, he or she may use it to support himself or herself and engage in self-employment.
The person who uses any goods or services on a daily basis is the consumer. Consumers are anyone who purchases goods or services and consumes them with the buyer's consent.
This includes anyone else. Consumers include any individual or group of individuals who purchase goods or services from the buyer but do so without the buyer's knowledge or consent. The consumer can also be referred to as the final user of the goods or services.
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when it comes to managing money success is about 80% knowledge and 20% Behavior true or false
Answers
Answer:
huh
Explanation:
do you have a picture of the question because I don't get it but I'm trying to help
If Serena runs her own business and is responsible for everything, she is a/an
Answers
Answer:An entrepreneur
Explanation:
An entrepreneur is an individual who starts and runs a business with limited resources and planning, and is responsible for all the risks and rewards of her business venture.
According to the video, how long does an architecture program usually take to complete?
1. two years
2. five years
3. eight years
4. ten years
Answers
Answer:
five years
A regular and normal architecture program would typically take up to 5 years to complete. The answer is five years. Hope it helps!
1. Five years
What is the difference between a 3.5 fold and an 8 fold essay?
Answers
A 3.5 fold essay consists of an introduction, three body paragraphs, and a conclusion, while an 8 fold essay expands on the 3.5 fold structure by adding more detail and nuance to each paragraph.
The terms "3.5 fold" and "8 fold" essay refer to different methods of organizing the structure of an essay. A 3.5 fold essay consists of an introduction, three body paragraphs, and a conclusion. The three body paragraphs each have a specific purpose and follow a specific structure: the first paragraph introduces the main idea, the second paragraph supports the main idea with evidence, and the third paragraph provides a conclusion or summary.
On the other hand, an 8 fold essay expands on the 3.5 fold structure by adding more detail and nuance to each paragraph. The introduction and conclusion remain the same, but each body paragraph is broken down into smaller sections that address different aspects of the main idea. This allows for a more thorough exploration of the topic and a more complex argument.
In summary, the main difference between a 3.5 fold and an 8 fold essay is the level of detail and complexity in the organization of the body paragraphs. The 8 fold essay provides a more in-depth exploration of the topic, while the 3.5 fold essay is a simpler and more straightforward structure.
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The table below lists the CPI and wage values for the United States from different decades.
a. Complete the table by computing the real income for each year shown in the table
Instructions: Round your answers to two decimal places.
(Table in the picture. If you could provide me with a formula and an example I can do it on my own after that. Thanks :) )
Instructions: Enter the year using all four numbers (yyyy).
b. Of the years listed above, the paycheck of the average worker was highest in
c. Of the years listed above, the purchasing power of the average worker was highest in
Answers
The average real wage given the CPI and Nominal wages in:
1967 is $21,188.62
1977 is $22,407.58
1987 is $22,935.74
1997 is $23,163.24
2007 is $23,973.95
2013 is $22,455.79
The paycheck of the average worker was highest in 2013.
The purchasing power of the average worker was highest in 2007.
What is the consumer price index?
The consumer price index measures the changes in price of a basket of good. It is used to measure inflation.
Real wages = nominal wages / cpi
Real wage in 2013 = 52,322 / 2.33 = $22,455.79
Purchasing power is the highest when the real wage is the highest.
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The following is the sales budget for Lemonis, Incorporated, for the first quarter of 2022:
January February March
Sales budget $ 136,000 $ 153,000 $ 168,000
Credit sales are collected as follows:
55 percent in the month of the sale.
25 percent in the month after the sale.
20 percent in the second month after the sale.
The accounts receivable balance at the end of the previous quarter was $123,700 ($89,100 of which was uncollected December sales).
Compute the sales for November.
Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.
Compute the sales for December.
Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.
Compute the cash collections from sales for each month from January through March.
Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.
Answers
a. Sales for November = $169,500
b. Sales for December = $198,000
c. Total cash collections are as follows:
January = $97,075
February = $118,150
March = $130,650
Accounts receivable performs the function of cash collection. It involves getting money back from a company or person to whom we have sent an invoice.
a. Compute the sales for November.
Sales for November = (Accounts receivable balance at the end of the previous quarter - Uncollected sales from December) / Collection rate two months after the sale = ($123,000 - $89,100) / 20% = $169,500
b. Compute the sales for December.
Sales for December = Uncollected sales from December / (Collection rate one months after the sale + Collection rate two months after the sale) = $89,100 / (25% + 20%) = $198,000
The calculation for cash collections is:
January = 25%× $89,100 + 55% × $ 136,000
= $97,075
February = 25% ×$ 136,000 + 55% ×$153,000
= $118,150
March = 25% × $153,000 + 55%× 168,000
= $130,650.
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What is a difference between a cover letter and an introduction statement?
You only need to use formal language in an introduction statement.
A cover letter is typically submitted with a resume. An introduction statement is used with online applications.
Introduction statement are more detailed than cover letters.
A cover letter is much shorter than an introduction statement.
Answers
The difference between a cover letter and an introduction statement is that C. A cover letter is typically submitted with a resume. An introduction statement is used with online applications.
What is a cover letter?Although they have a similar format, a cover letter and an introduction letter serve very different purposes. A letter of introduction informs a potential employer of your qualifications and expresses your desire to be considered for a position. In response to a recent job posting, a cover letter is written.
The main distinction is that a supporting statement is included in the application form and responds to questions like "Please explain why you are perfect for this role," whereas a cover letter is typically sent separately from your CV.
In a cover letter for a job application, you can introduce yourself personally and argue why hiring you would be wise. Include specific examples from your prior experience that show you are qualified for the position in your cover letter, which should be three paragraphs or less long.
Therefore, based on the information illustrated, the correct option is C.
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Paul’s grocery received 1,000 pounds of onion at $0.11 per pound. On the average, 3% of the onions will spoil before selling. Find the selling price per pound to obtain a makeup rate of 180% based on cost.
Answers
The selling price per pound for onions to obtain a makeup rate of 180% based on cost is $2.0350.
What is the selling price per pound for onions?Total Cost = Quantity * Cost per pound
Total Cost = 1,000 pounds * $0.11/pound
Total Cost = $110
Spoilage Quantity = 3% of Quantity
Spoilage Quantity = 3% of 1,000 pounds
Spoilage Quantity = 0.03 * 1,000 pounds
Spoilage Quantity = 30 pounds
Effective Quantity = Quantity - Spoilage Quantity
Effective Quantity = 1,000 pounds - 30 pounds
Effective Quantity = 970 pounds
Makeup Rate = 180%
Selling Price per pound:
= (Total Cost * Makeup Rate) / Effective Quantity
= ($110 * 1.80) / 970 pounds
= $2.03505/pound.
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a corporation has taken out a loan to finance a new operation. What is the name of that type of financing called? A .Collateral financing B. debt financing C. bank financing D. retained earnings financing?
Answers
Since the corporation took out a loan, the name of that type of financing is called debt financing.
What are the two major funding options for corporations?The two primary funding options for corporations are debt financing and equity financing.
Debt financing entails taking a loan from a bank or selling fixed-income securities like bonds.
Equity financing is the practice of raising funds through the selling of shares.
As the corporation took out a loan, the name of that type of financing is called debt financing.
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What should you do when you open a checking account?
A) Open a savings account and link it to your checking account.
B)Try to sign up for true overdraft protection, even though you have to pay
for it.C. Both A and B.
Answers
Answer: both a and b
Explanation:
PLEASE PLEASE HELP ME PLEASEEE
Answers
Answer:
in the eyes of the buyer, a perfect supplier should always ensure its records are up-to-date.
Whether this is with regard to insurance certificates, financial performance, health and safety, environmental policy or training courses that have been completed, businesses need to make sure all information is relevant and regularly updated.
Not only does this make it easier for the supplier to keep on top of their policies and paperwork, but it also helps the buyer to make better-informed decisions.
Innovation is a key supply chain trend at present, and buyers want to see signs of this from the suppliers they work with because it could be what gives your customer an advantage.
Demonstrating to buyers that your organisation is committed to continual improvement by learning from the audit results and achieve better audit scores year-on-year, shows buyers that your organisation is continually meeting the ever increasing buyer standards. You may not be always perfect but ensuring that you have action plans in place where required will go a long way.This is also important
Excess inventory can lead to poor quality goods and degradation. If you've got high levels of excess stock, the chances are you have low inventory turnover, which means you're not turning all your stock on a regular basis. Unfortunately, excess stock that sits on warehouse shelves can begin to deteriorate and perish.Storage Capacity. Even if you don't have to rent storage space and lose additional profit, holding extra inventory is a hard task
Fixed costs are _____.
costs that increase regardless of how much of a good or service is produced
costs that stay the same regardless of how much of a good or service is produced
costs that decrease regardless of how much of a good or service is produced
none of the above
Answers
Answer:
costs that stay the same regardless of how much of a good or service is produced
Explanation:
In the short run, fixed costs are the expenses that do not change regardless of the output level. In other words, fixed costs remain a constant amount throughout the financial period. Examples of fixed costs include rent, administrative salaries, insurance, and loan repayments. These amounts will be the same irrespective of production levels.
Fixed costs contrast with variable costs that vary depending on the output level.
Select two ways of becoming a business owner. Compare the advantages and disadvantages and decide which of the two you would prefer.
Answers
Two ways of becoming a business owner are starting a business from scratch and buying an existing business.
Starting a business from scratch:
Advantages:
Freedom to make all the decisions about the business.
Ability to create a unique product or service.
No existing debt or liabilities.
Ability to control the company culture and hiring practices.
Flexibility to adjust the business model and pivot when necessary.
Disadvantages:
High risk and uncertainty in the early stages.
Significant time and effort required to establish the business.
Need to build a customer base from scratch.
Difficulty in obtaining financing without a proven track record.
Limited resources and expertise in some areas.
Buying an existing business:
Advantages:
Established customer base, products or services, and brand recognition.
Existing cash flow and revenue stream.
Existing staff and management in place.
Access to existing supplier and customer relationships.
Proven business model and historical financial data.
Disadvantages:
Possibility of inheriting existing debt and liabilities.
Need to adjust to the existing company culture and processes.
Potentially overpaying for the business.
Difficulty in making significant changes to the business model or culture.
Potential hidden problems or issues with the business.
You have $50,000 in your account. Assuming no additional deposits are made and your account earns 8 percent per year, how long will it take for the account to have a balance of $500,000?
Answers
Answer:
29 years
Explanation:
50,000 + 8% = 54,150
it will take you 29 years in total
to be exact 504,882
Answer:
29.92 years
Explanation:
A = Ai * (1 + r)^n
500,000 = 50,000*(1 + 0.08)^n
divide by 50000
10 = 1.08^n
log of both sides
log(10) = n*log(1.08)
n = log(10) / log(1.08)
n = 29.9188 years
Mitchell Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Mitchell Bicycle Shop uses a periodic inventory system. Date Transactions Units Unit Cost Total Cost March 1 Beginning inventory 20 $185 $3,700 March 5 Sale ($270 each) 15 March 9 Purchase 10 205 2,050 March 17 Sale ($320 each) 8 March 22 Purchase 10 215 2,150 March 27 Sale ($345 each) 12 March 30 Purchase 9 235 2,115 $10,015 For the specific identification method, the March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase. Required: 1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. 2. Using FIFO, calculate ending inventory and cost of goods sold at March 31. 3. Using LIFO, calculate ending inventory and cost of goods sold at March 31. 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31. 5. Calculate sales revenue and gross profit under each of the four methods. 6. Comparing FIFO and LIFO, which one provides the more meaningful measure of ending inventory? 7. If Mitchell Bicycle Shop chooses to report inventory using LIFO instead of FIFO, record the LIFO adjustment.
Answers
Bikes from initial inventory are included March 5 sale, a March 17 outsourcers bikes from March 9 sale, or Mar 27 sale includes four bikes from the initial balance & eight bikes from March 22 purchase. 1/2 is need.
Now what you mean by inventory?All the products, materials, and things that a company keeps on hand in anticipation of selling them to customers for a profit are referred to as inventory. Example: If a newspaper seller utilizes a vehicle to distribute newspapers to clients, just the newspapers will be deemed inventory.
What are the four different categories of inventory?Raw materials/components, WIP, final products, and MRO are the four main categories of inventory.
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_______best tip of the waiter a.attitude b.gratitide c.money d.foods
Answers
Answer:
Gratititude, because attitude is nice but not the best, money doesn't buy happiness, and the waiter serves YOU food.
Answer:
C: money. It would be money because the waiter or waitress doesn't care if your nice they just need to make a living.
Explanation:
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