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3 years ago

What are the 6 benefits of a market economy for producers?

1 answer:

muminat3 years ago

5 0

You'll save money and make more money .you'll create and propagate your own brand.you'll familiarize yourself with industry knowledge.you 'll build a network of suppliers.you'll be able to diversify.you'll save money and make even more money...

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Novak corp. sells a snowboard, ezslide, that is popular with snowboard enthusiasts. below is information relating to novak corp.

Rom4ik [11]

Answer:

a. The value of ending Inventory using FIFO is $2749.

b. The value of ending Inventory using LIFO is $2667.

c. The value of ending Inventory using Average Cost method is $2713.

We have:

Date Explanation Units unit cost Total Cost

Sep-01 inv 11 97 1067

Sep-12 purchases 44 100 4400

Sep-19 purchases 47 101 4747

Sep-26 purchases 22 102 2244

Total 124 12458

Novak sold 97 snowboards, so the number of snowboards with it at the end of September is $124 -97 = 27 units$ .

If Novak adopts First In First Out (FIFO) method, and 27 units are remaining, all 22 units purchased on Sept-26th and $27 -22 = 5 units$ from the purchases made on Sept-19th will remain in inventory.

So the value of inventory using FIFO will be $(22* 102) + (5*101) = 2749$

If Novak adopts Last In First Out (LIFO) method, all 11 units in inventory on Sept-01st and $27 -11 = 16 units$ from the purchases made on Sept-12th will remain in inventory.

Hence inventory value using LIFO will be $(11* 97) + (16*100) = 2667$

We calculate the Average cost by dividing the Total Cost by total number of units purchased.

$Average Cost = \frac{12458}{124} = 100.468$

The value of inventory using the average cost method is $100.648 * 27 =2713$ .

3 0

3 years ago

Read 2 more answers

The meaning of saving and investment Classify each of the following based on the macroeconomic definitions of saving and investm

kondor19780726 [428]

Answer:

All the options given are examples of investment.

Explanation:

Savings are what an individual has left after their spending has been deducted from their disposable income. Savings can increase income by investing the money saved. Investment is an item or asset gotten with aim of generating income. An investment simply means buying goods that are not for immediate consumption but generation of income.

All the options provided are investment examples. A certificate of deposit is given by the bank to an individual after a certain amount of money has been deposited and it generates interest. Also building a cabin , a laboratory and buying stock are investments.

3 0

3 years ago

Money used to finance business activities is known as

nadya68 [22]

In the cash flow statement financing activities refer to the flow of cash between a business and its owners and creditors.

4 0

3 years ago

The graph shows a point of equilibrium.

Alekssandra [29.7K]

Answer:

The correct answer is that the price of the product will decrease in order to meet the equilibrium

Explanation:

Equilibrium point is the point where the quantity supplied is equal to the quantity demanded. And the equilibrium price as well as the quantity is evaluated through the intersection of the demand the supply.

When the quantity which is supplied is greater or more than the quantity demanded, it will create a situation of surplus. And if the product price is decreased or lowered down, then the quantity demanded of the product will increase or rise until it reached to equilibrium. In short, the surplus drives the price down.

7 0

4 years ago

"To make a profit while benefiting humanity" is and example of a mission statement that?

iogann1982 [59]

It sounds a bit too broad so I would say B, too vague

7 0

4 years ago

Read 2 more answers