Answer:
$6,500
Explanation:
First In First out (FiFO) is an Inventory method which determines the inventory value and it requires that the unit purchased first will be sold first.
Units Cost Value Balance
Beginning Inventory 3,700 $5 $18,500 $18,500
February
Purchases 5,700 $4 $22,800 $41,300
March
Purchases 2,700 $6 $16,200 $57,500
Sale -1,300 $5 ($6,500) $51,000
Cost of Goods sold is the cost of sold units on the basis of FIFO inventory costing method.
Answer:
True
Explanation:
Data are raw information that have not gone through any processing but giving a description of a thing. They are in their basic digital format. It requires interpretation for data to be translated to information.
Answer:
Option A. $20
Explanation:
Marginal cost be MC, marginal revenue be MR and . We know that
MR = ∆TR ÷ ∆Q
or
MR = (P∆Q+Q∆P) ÷ ∆Q
Here,
P is Profit-maximizing price
or
MR = (P∆Q ÷ ∆Q) + (Q∆P ÷ ∆Q)
or
MR = P + (Q∆P ÷ ∆Q)
we can also write the above equation as
MR = 
also,
Price elasticity of demand PED = 
or
MR = P + [ P ÷ (PED) ]
We know MR = MC
Therefore,
MC = P + [ P ÷ (PED) ]
(P − MC) ÷ P = −1 ÷ PED
Substituting the values provided in the question
MC = $10
PED = -2
we get
P = [ PED ÷ (1 + PED)] × MC
P = ( -2 ÷ -1) × 10
or
P =$20
hence,
Option A. $20
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Answer:
The answer to your question is False.
