Answer:
Closing inventory - $10,160
Costs of goods sold - $9,600
Explanation:
Under the LIFO Method, the cost of good sold equals to
= April 23 units × cost per unit + Remaining units × cost per unit
= 300 units × $22 + 150 units × $20
= $6,600 + $3,000
= $9,600
Since the firm has sold 450 units, so out of which 300 units sold at a price of $22 and the remaining 150 units sold at a price of $20
The ending inventory equals to
= Remaining units × cost per unit + April 1 × cost per unit
= 270 units × $20 + 280 units × $17
= $5,400 + $4,760
= $10,160
Since on April 23, the 420 units were purchase, out of which 150 units are transferred to the cost of good sold and the remaining units 270 units at $20 is transferred to the ending inventory
Answer:
b
Explanation:
There are two types of forecasting method
1. Qualitative forecasting
2. Quantitative forecasting
Qualitative forecasting can be described as when subjective judgement or non quantifiable information in forecasting.
<em>When is qualitative forecasting suitable ?</em>
- It is used when historical data in unavailable.
- this method is suitable when it is predicted that future result would depart from what historical data may suggest
<em>Advantages of Qualitative forecasting </em>
- it is flexible
- It can be used when data available is ambiguous or unclear
<em>Disadvantage of Qualitative forecasting </em>
It is subjective.
Quantitative forecasting can be described as forecasting using historical data
Answer:
29.37%
Explanation:
Rate of return = Average annual income/Average initial investment
Average annual income = $3,700
Average initial investment = (I+s)/2
Average initial investment = (25,200+0)/2
Average initial investment = $12,600
Rate of return = $3,700/$12,600
Rate of return = 0.2936508
Rate of return = 29.37%
Answer:
restricting the entry; trade restrictions; import tariffs; rent-seeking; monopoly
Explanation:
Monopolists want to maximize their profits by keeping the potential competitors out of the market. For restricting the entry of potential firms they adopt the practice of lobbying for trade restrictions which restrict entry. One such restriction is importing tariff which will reduce competition from foreign products. Such lobbying can be defined as a form of rent-seeking which means using political means to secure monopoly position.
Marketing information systems (MIS) consists of people, equipment, and procedures to gathr, sort, analyze and distribute needed, timely and accurate information to marketing decision makers
