Answer:
Scarcity refers to the basic economic problem, the gap between limited that is, scarce resources and theoretically limitless wants. This situation requires people to make decisions about how to allocate resources efficiently, in order to satisfy basic needs and as many additional wants as possible.
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Answer:
Ending inventory : $868
Explanation:
FIFO (First-In-First-Out) is a method of inventory valuation where the inventory that is received first is sold first. In other words, the earliest inventory is used first. This is common for perishable inventory such as fruits and vegetables which if not used fast, will be wasted.
01/01/21 : Beginning Inventory : 200 units x $5 = $1000
01/15/21 : Purchases : 100 units x $5.3 = $530
01/28/21 : Purchases : 100 units x $5.5 = $550
Total units = 200 + 100 + 100 = 400 units
Units sold = Total inventory available for sale - ending inventory
= 400 - 160 = 240 units.
COGS:
Beginning Inventory : 200 units x $5 = $1000
Purchases : 40 units x $5.3 = $212
Cost of goods sold : $1000 + $212 = $1212
Ending inventory:
Purchases : (100 - 40) units x $5.3 = $318
Purchases : 100 units x $5.5 = $550
Ending inventory : $318 + $550 = $868
Answer:
$17,167
Explanation:
<em>The first step is to calculate amount of cash that would be charged</em>
<em>For 30 months, pay $520 per month for 30 months and an additional $10,000 at the end of 30 months.</em>
Present value is = 2,221
<em>Then</em>
<em>The present value of the payment options is =</em>
<em>($520 * PVA (24% 12,30) + $10,000 PV ( 24% 12,30))</em>
<em>$520 * 22.396 + $10,000 * 0.5521</em>
<em>$11646 + $ 5521</em>
<em>$17,167</em>
<em>Therefore the amount of cash the car dealer would charge is $17,167</em>
Answer:
The monthly withdrawal is $701.10
Explanation:
The monthly withdrawal can be computed with PMT formula using excel spreadsheet.
The formula is PMT(rate,nper,-pv)
The fv and type are both taken as zero.
However, the rate of 5.5 % given in the question is a yearly rate,but the requirement of the question is monthly withdrawal, hence the rate is divided by 12 months to reflect a monthly rate i.e 5.5%/12
Besides, the nper should also to be adapted to show that the withdrawal is to be made every month for 18 years, hence nper is 12*18
The computation of the pmt based on the above highlighted points is found in the attached.