Answer:
$389,100
Explanation:
Calculation to determine what the correct balance for ending inventory on December 31 is:
Using this formula
Ending inventory on December 31=Ending inventory balance-Office supplies
Let plug in the formula
Ending inventory on December 31=$414,500- $25,400
Ending inventory on December 31=$389,100
Therefore the correct balance for ending inventory on December 31 is:$389,100
Answer:
Better schools from increase in property tax revenue.
Answer:
$26,250
Explanation:
Beginning inventory:
= 1/2 × 1,600 × 3 × $5
= 12,000
COGS = 1,600 × 3 × $5
= $24,000
Ending inventory = 1/2 × 1,900 × 3 × $5
= $14,250
Beginning Inventory + purchases - COGS = Ending Inventory
Purchases = Ending Inventory - Beginning Inventory + COGS
= $14,250 - 12,000 + $24,000
= $26,250
Answer:no relationship,substitutes and complements
Explanation:
A 20% price increase for Product A causes a 10% decrease in its quantity demanded, but no change in the quantity demanded for Product B.
The answer is : Cross-Price Elasticity=0, Relationship=no relationship
Product C increases in price from $1 a pound to $2 a pound. This causes the quantity demanded for product D to increase from 27 units to 81 units.
Answer: Cross price elasticity 81/54=1.5, relationship=substitutes
When the price of Product E decreases 2%, this causes its quantity demanded to increase by 14% and the quantity demanded for Product F to increase 17%.
Answer: Cross-Price elasticity which is = -8.5, relationship= complements
