The person can dress in 630 different ways according to permutation and combination.
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What is permutation and combination?</u></h3>
- Subsets of a set can be created in two separate ways: combination and permutation. The subset's components can be listed in any order when combined. The components of the subset are listed in a permutation in a certain order.
- There are only a finite number of permutations and combinations for each data set. They can therefore be used to calculate the probability of complex events.
- The number of possible permutations increases and the likelihood that a particular permutation will occur decreases as a set's elements increase.
First, The person has to decide on pants. So, he has 5 choices. And for each pant, the person has 7 shirts, 6 ties and 3 pair of shoes as choice. So, 5*7*6*3 = 630.
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Answer:
The value of ending inventory = $298 (Using FIFO method)
Explanation:
First-in, First-out method depicts that the oldest purchased items will be sold first.
Ending Inventory:
As the company has 38 candle holders at the end of the period, the value of the inventory using the FIFO method is as follows:
Ending inventory will be the last purchase of 35 candle holders at the cost of $7.55 + 3 candle holders at the cost of $11.25
The value of ending inventory = (35 units × $7.55) + (3 units × $11.25)
Therefore, The value of ending inventory = $264.25 + $33.75
Hence, The value of ending inventory = $298.