Answer:
Ending inventory as at 31 December = $1500
Explanation:
First-In-First-Out is a method of inventory valuation whereby the stock that comes in first, is used first. This is common for inventory consisting of perishables, such as vegetables where if not used/sold soon, it would be wasted.
Jan 31: Purchases = $20 x 100 units = $2000
<em><u>Remaining inventory:</u></em>
$20 x 100 units = $2000
Feb 28: Purchases = $30 x 100 units = $3000
<em><u>Remaining inventory:</u></em>
$20 x 100 units = $2000
$30 x 100 units = $3000
<em><u>Sales = 150 units x $45:</u></em>
$20 x 100 units = $2000
$30 x 50 units = $1500
<em><u>Remaining inventory</u></em>
200 - 150 = 50 units x $30 = $1500
<em>Thus,</em>
Cost of Goods Sold = $3500 ($2000 + $1500)
Ending inventory as at 31 December = $1500
Answer:
B. Family members
Explanation:
A traditional economy is based upon the customs, beliefs, and history of the community. Age-old traditions and beliefs guide economic decisions of production and distribution. The traditional economy is motivated by the social well being of its members and not by profits.
The main economic activities under the traditional economy revolves are subsistence farming, fishing, and hunting. These activities are carried out in family settings. In other words, family members provide labor for economic activities.
Answer:
The net savings changed the most, and this is because of the extra money coming in via total income. An extra $290.00 was added to the category.
Explanation:
<span>I believe the answer to this question is: the price elasticity of demand is 60. q = 80 - 0.5(40) is the equation I used. Half of 40 is 20, and 80 minus 20 is 60.</span>
One thing that can cause a shift in the demand curve is a change in one of the determinants of demand.
The law of demand can be shown as Pat wants to buy more candy bars at $1 than at $2
<h3>What does the law of demand say?</h3><h3 />
The law of demand posits that people will demand more of a good when the price is lower as opposed to when it is higher. This is why Pat will want to buy more candy bars when the price is lower at $1 as opposed to $2.
The demand curve will shift when there is a change in one of the determinant of demand such as the income of people and the price of substitutes.
Find out more on the law of demand at brainly.com/question/24500422
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