When quantity supplied equals quantity demanded, there is a(n): a. equilibrium, and the price will not change. b. surplus, and t
he price will fall. c. shortage, and the price will rise. d. equilibrium, and the price may rise or fall.
1 answer:
Answer:
a. equilibrium, and the price will not change
Explanation:
At equilibrium, quantity supplied equals quantity demanded. There is no incentive for prices to change.
Above the equilibrium price, there is a surplus, and the price will fall.
Below the equilibrium price, there is a shortage and prices would rise.
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Answer:
cost of goods sold = $36,285
ending inventory = $1,742
Explanation:
when you use the weighted average cost method you have to calculate the COGS using the total number of units and the total amount paid for them.
beginning inventory = 71 units for $5,325
purchase 1 = 262 units for $18,864
purchase 2 = 187 units for $13,838
total 524 units for $38,027
cost per unit = $38,027 / 524 units = $72.57
cost of goods sold = 500 units x $72.57 = $36,285
ending inventory = 24 units x $72.57 = $1,741.68 ≈ $1,742
