Answer:
The amount that Plunkett should report in ending inventory on December 31 is $156,300
Explanation:
The computation of the ending inventory is shown below:
= Ending inventory balance - FOB destination goods purchased - goods being held on consignment
= $215,500 - $44,100 - $15,100
= $156,300
The other items would not be adjusted because the other items are not included in the ending inventory so they are not being considered in the computation part.
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Answer: Option (B) is correct.
Explanation:
If the price of a commodity decreases, as a result purchasing power of a consumer increases. This is one of the reasons why the AD curve slopes downward.
Suppose there is a fall in the price of a commodity, this will increase the demand for that commodity as well as the purchasing power of the consumer.
Because with a lower price of the commodity, individuals can buy more quantity of goods with the same level of income.
