Answer:
Best estimate for inventory =$70,764.85
Explanation:
The closing inventory value at retail
= (Opening inventory + Purchases - sales) all in retail prices
= $123,000 + $483,000 - 493,000.
= 113000
Closing inventory value at cost
=113,000 × (64,500 + 315,000)/(123,000 + $483,000)
=70,764.85
Best estimate for inventory =$70,764.85
Question attached
Answer and Explanation:
New buy: solar panels, shipping cranes
Straight rebuy: legal pads and pens, copier paper
Modified rebuy : service trucks, record keeping software
New buy is typical of buyers who are buying a product for the first time and have no previous experience about it and therefore need to research and make proper buying decision
Straight rebuy: this class buy these products regularly and so do not need to make a critical decision.
modified rebuy: this buy class only need that the product be modified albeit the same product but with slightly different specifications. They have some experience as they have previously purchased the product. Example a company ordering for new logos and business cards.
Answer:
Has a competitive advantage in the production of wheat
Explanation:
The data of the outputs shows that the USA has the ability to produce 12 bushels of wheat or 3 yards of textil and the India has the ability to produce 3 bushels of wheat or 12 yards of textiles. Given this information we could say that the USA has a competitive advantage in the production of wheat and India has a competitive advantage in the production of textiles.
If the two countries start a commercial exchange they will benefit if they dedicate their production to the good in which they have the competitive advantage and exchange it for the good in which they are not so productive, that is:
USA trading (wheat) for India's textiles.
In that way they both can consume a greater amount of those two gods unlike if they produced and consumed without trading.
Answer:
Product innovation
Explanation:
When a company decides to diverge its existing resources (in this question is the talented staff free time) to invent and develop a new product, this is a form of product innovation. Product innovation might be either defined as the development of a new product, or introduction of new features/applications or improvement to the performance of an existing product.
