Answer:
The beginning inventory was $2000.
Explanation:
First, we need to calculate the Cost of Goods sold. The cost of Goods sold is the difference between the Sales and the gross profit. Thus, the cost of goods sold is 16000 - 10000 = $6000
The value of the beginning inventory for the period can be calculated by using the Cost of Goods sold formula. The cost of goods sold is calculated as:
Cost of goods sold = Beginning inventory + Purchases - Closing Inventory
Plugging in the available figures in the formula,
6000 = Beginning Inventory + 8000 - 4000
6000 = Beginning inventory + 4000
6000 - 4000 = Beginning Inventory
Beginning Inventory = $2000
If AR is constant, MR is equal to AR. Both are indicated by the same horizontal straight line(a situation of perfect competition)
<h3>What is the marginal revenue curve for a perfectly competitive firm?</h3>
- Marginal revenue for a company with perfect competition is the same as average revenue and pricing.
- This suggests that at values bigger than the average variable cost, the firm's short-run supply curve is its marginal cost curve.
- The company closes if the price falls below the average variable cost.
Marginal revenue is the change in total revenue when one more unit of a commodity is sold.
MR= change in TR/change in quantity sold
Average revenue refers to revenue per unit of output.
AR=TR/Q
Relationship between AR and MR:
If AR is constant, MR is equal to AR.
Both are indicated by the same horizontal straight line(a situation of perfect competition)
To learn more about marginal revenue, refer to
brainly.com/question/13444663
#SPJ4
Answer:
The correct answer is lower-class nonwhite.
Explanation:
The lower class is the poorest population segment of human society. It is characterized by having great gaps in its way of life and limitations in terms of access to economic resources. They are usually unemployed people, who do not own their own home or other goods or properties that are essential for living.
To this socioeconomic class belong people with very low educational levels, barely with primary education and some with secondary education. Some casual or independent workers also enter this class. Lower class families do not have good basic services in their homes.
Answer:
Perfection records in it's books an Investment in Associate of $486,000
Explanation:
Hi, your question has missing information, i tried to look for the full question online but I could not find it.
However, I have prepared below explanation to the problem.
When a firm has investments into another firm of less than 50% voting rights in stake but greater than 20% we say that firm has significant influent in the investee. The firm is said to have an Investment in an Associate.
Investments in Associates are always recorded using the Equity Method of Accounting.
<u>Entries for Investment in Associate are :</u>
Debit :Investment in Associate ($1,944,000 × 25%) $486,000
Credit : Share of profits of associate $486,000
Conclusion :
Perfection records in it's books an Investment in Associate of $486,000
