Black markets are illegal markets that emerge in response to price controls. A few buyers are able to obtain the good at the open-market price; the rest must resort to illegal means. The additional demand is met by underground suppliers selling at much higher prices.
The government does not support the black market or any of their actions with getting items and selling them in other forms. Those who are in demand of a good when they have a hard time in getting it may purchase it illegally at a higher price just so they can receive that good. When there is an exchange of goods in the black market, these items are usually prohibited by the government and therefor illegally being sold.
Those shops which are located in the mid of the mall and operated from there are called as Mall Koisk.
Answer:
Price will be 6.6
Explanation:
You can find the attached file.
Answer:
First In, First Out (FIFO).
Explanation:
FIFO is an acronym for "First In, First Out" and it assumes oldest unit of inventory is sold first, meaning goods that were first added to inventory are the first goods removed from inventory for sale and are recorded as sold first.
FIFO can be defined as an accounting methods used in managing costs related to inventory, stock repurchases at different times and financial activities associated with monetary costs a company had tied up within inventory of feedstocks, raw materials, produced goods, and equipment parts.
Simply stated, FIFO is an accounting methods used for the valuation of the cost of goods sold and ending inventory of a company.
In a period of rising prices, the inventory method which tends to give the highest cost of goods sold value is First In, First Out (FIFO). This is because the more recent costs represent the higher (rising) net income and a higher (rising) inventory valuation costs.
