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
Answer:
protectionism
Explanation:
The country could overtax import products such as manufactured products in order to protect its own products and industries. This is very common in trade markets. Nowadays, through the globalization and China´s high development protectionism is ending.
Answer:
$721,000 is correct
Explanation:
Cost of goods sold =754000 + 125000 -158000
=721,000
Answer:
Increase in savings resulting directly from the given change in income
= increase in income - increase in consumption = $2000-$150 = $500
Marginal propensity to save = increase in savings/increase in income = 500/2000 = 0.25
Explanation:
Answer:
Karl Marx
Explanation:
Karl Marx was a German economist that lived in the 19th century. His definition of capital as the most important factor of production was actually quite accurate and advanced for his time. He was the first major economist to state that capital by itself was enough to generate wealth.
He also proposed socialism as the higher stage of capitalism, which actually works in many European nations which are considered social democracies, e.g. Sweden, Norway, Denmark, Holland, Germany, etc., and at the same have the highest standards of living in the world.
Personally, I believe that his major flaw was to go a few steps further and believe in communism and that it would solve all of humanity's problems. Communism is not the same of socialism, since socialism believes in an economy under the influence of the state but also supports individual merit and private property. E.g. someone that works hard should be paid more, i.e. personal wealth is not bad. On the other hand, communism believes that the state must control the economy and that individuals should be rewarded based on their needs, not their work. It doesn't matter if you work hard or not even work at all, the state must satisfy your needs.
