Arch duke of Fran's Ferdinand. Hope this helps
Answer:
Year 1 ending inventory is overstated and year 1 cost of goods sold is understated
Explanation:
The amount of ending inventory is increased by $ 5000 so the ending inventory is overstated and the cost of goods sold is understated as an amount of additional $ 5000 is deducted from it. For better understanding we consider the following
Opening Inventory $ 15000
Purchases $ 50,000
<u>Ending Inventory $ 20,000</u>
Cost Of Goods Sold = $ 45,000
Suppose we write $ 20,000 as $ 25,000 we get
Opening Inventory $ 15000
Purchases $ 50,000
<u>Ending Inventory $ 25,000</u>
Cost Of Goods Sold = $ 40,000
So we see that Year 1 ending inventory is overstated and year 1 cost of goods sold is understated by an amount of $ 5000
Can you attach a pic for this
Answer: A. housing
Explanation: The largest expense of a typical American consumer is for housing, accounting for 20% of a family's total income in 2018. This is due to the fact that any expenditure on housing is related to basic needs of human.