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Rainbow [258]
3 years ago
14

Ray's Sounds has accumulated the following cost and market data on March 31: Cost Data Market Data iPods $24,000 $20,400 Cell ph

ones $18,000 $19,000 DVDs $28,000 $25,600 Using the lower-of-cost-or-market, how much is the value of the ending inventory? $65,000 $63,100 $64,000 $70,000 $71,000
Business
1 answer:
mixer [17]3 years ago
8 0

Answer:

$64,000

Explanation:

product     cost data     market data       lower of cost or market

ipod       24,000         20,400             20,400

cell phone 18,000          19,000                18,000

DVDs        28,000          25,600              25,600

ending inventory = 20,400 + 18,000  + 25,600

                             = $64,000

Therefore, The value of the ending inventory is $64,000

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2 years ago
Suppose the marginal propensity to consume is equal to 0.75. If the government lowers tax rates and tax revenue falls by $100 mi
vovikov84 [41]

Answer:

$100; $75

Explanation:

Given that:

  • Tax revenue falls by 100 million dollars
  • marginal propensity to consume (MPC) is 0.75.

Due to the fall in tax revenue, disposable income will increase by the same amount, that is, $100 million.

Consuption spending will initially increase by $75 million, as shown below:

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6 0
3 years ago
A movement along the phillips curve shows that the unemployment rate and inflation rate are.
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Changing in response to the supply-side policy.

<h3>What causes a movement along the Phillips curve?</h3>
  • An increase in AD is a shift from point A to point B. Inflation rises, and the jobless rate falls when AD rises. A shift from point A to point C corresponds to a reduction in AD.
  • The Phillips curve is a diagram that illustrates the economic link between the rate of unemployment and the pace at which wages are changing in terms of money. It reflects the belief of economist A. William Phillips that wages tend to increase more quickly when unemployment is low.
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A movement along the phillips curve shows that the unemployment rate and inflation rate are.

Changing in response to the supply-side policy.

To learn more about the Phillips curve, refer to:

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7 0
3 years ago
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Valentin [98]

Answer:

Tax return preparers may generally rely on a client's representations without verification unless the information seems incorrect, inconsistent, or incomplete, Option A.

Explanation:

A  "tax return preparer" usually relies in good faith without verification upon information furnished by a taxpayer or another advisor or third party. But he has the authority to make inquires in case he feels the information given is incomplete or inconsistent. Also, some of the provisions also require few circumstances or facts to be claimed before deduction is made. So, A tax return preparer should make relevant inquiries to decide if the information given is correct as required by an "Internal Revenue Code" section or a regulation to claim either a deduction or a credit.

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