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Gelneren [198K]
3 years ago
11

What is the maximum price that government allows sellers to charge

Business
1 answer:
oksian1 [2.3K]3 years ago
4 0
I think it's called a price ceiling. At least, that's what I think it is.
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The units of an item available for sale during the year were as follows: Jan. 1 Inventory 40 units at $165 $6,600 Aug. 13 Purcha
Volgvan

Answer:

a. FIFO - Inventory Used: $39900  Remaining Inventory: $14700

b. LIFO - Inventory Used: $41700 Remaining Inventory: $12900

c. Weighted Average Cost - Inventory Used: $40950 Remaining Inventory: $13650

Explanation:

Jan 01. Beginning inventory = 40 x $165 = $6600

Aug 13. Purchases 200 x $180 = $36000

Nov 30. Purchases 60 x $200 = $12000

Ending inventory = 75 units

Inventory Used = 300 – 75 = 225

(a) First-In-First-Out (FIFO)

This is the method where the inventory first received is the one that is used first. Common method when the inventory is perishable and would be wasted if left too long.

Inventory Used:

40 x $165 = $6600

185 x $180 = $33300

Total = $39900

Remaining Inventory:

15 x $180 = $2700

60 x $200 = $12000

Total = $14700

(b) Last-In-First-Out

Method whereby the inventory received latest is used first. Common in goods that are bulky. the inventory on top (latest purchased) is used first.

Inventory Used:

60 x $200 = $12000

165 x $180 = $29700

Total = $41700

Remaining Inventory:

40 x $165 = $6600

35 x $180 = $6300

Total = $12900

(c) Weighted Average Cost

This is whereby you divide the cost of goods sold by the number of units available for sale.

54,600 / 300 = $182

Inventory Used: 225 x $182 = $40950

Remaining inventory = 75 x $182 = $13650

3 0
3 years ago
Nora has heard that opening a lot of credit card accounts is a good way to build credit. She currently has five cards, but is so
Sladkaya [172]
This is a bad move. You should work on getting a high credit score on one card not multiple.
8 0
3 years ago
DONT ANSWER PLZZZZZZZZZ
KIM [24]

Answer:

ok i gochu

Explanation:

5 0
2 years ago
Calculate the total producer surplus at the market equilibrium price and quantity
IgorLugansk [536]

Answer:

a is the answer

Explanation:

5 0
2 years ago
The worst drought in over 50 years has decimated crops of soy beans and corn in the united states. (source: new york times, augu
seropon [69]

Answer: These data are insufficient for calculating the elasticity of demand because we also need to know the  <em><u>percentage decrease in the production of corn . </u></em>

The price elasticity of demand is defined as the percentage change in the quantity divided by the percentage change in demand.

The data gives the percentage change in demand in numbers (-25%). However, although there is a description of the effect of the drought on corn production, there is no numerical data that indicates the percentage change in the quantity.  Hence this data is insufficient to calculate the elasticity of demand.


5 0
3 years ago
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