Suppose that an anti-smoking campaign in Moscow, Russia, is successful so that Muscovites smoke less and chew gum more. Tobacco
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Inventory value of Cold stone Corporation as on 31/12/2021 is $ 58,600 at cost value and $61,530 at retail value
Explanation:
In the United Kingdom, Retail price index is a measure of inflation published monthly by the Office for National Statistics. It measures the change in the cost of a representative sample of retail goods and services.
LIFO - last in first out method .,means the inventory purchased in last will be sold first.
opening inventory and closing inventory always calculated at cost price only
Cost of sales = sales- markup
= $846,000 - $11,000 = $835,000
Closing inventory value
= cost of sales - purchases - opening inventory
= $835,000 - $693,600 = $141,400 - $200,000 =$ 58,600
Retail value of inventory on 31/12/2021
= $ 58,600×1.05= $61,530
Answer:
Part A. Compute the probability that operator of the hotel is busy.
The call arrives at Lynn Ann Hotel at the rate of 2/min.
Therefore, 2 min = 120 customers per hour
Thus, the call is serviced by the operator at a rate of 20 seconds per customer.
Therefore,
P = 180 customers per hour
Probability that the operator will be busy:
P = λ / µ
P= 120 / 180
P = 0.67
Therefore, the probability that the hotel operator is busy is 0.67 hours
Part B. Determine the average time customer must wait:
= λ / µ (µ - λ)
= 120 / 180(180 - 120)
= 120 / 180(60)
= 120 / 10,800
= 0.011
Thus, the average wait time for the customer is 0.011 hours
Part C. Determine the average number of call waiting:
= λ^2 / µ (µ - λ)
= 120^2 / 180 (180 - 120)
= 14,400 / 180 (60)
= 14,400 / 10,800
= 1.33
Thus, the average waiting call to be answered is 1.33 hours