Answer:
B. $600
Explanation:
The average cost method assigns a cost to inventory items based on the total cost of goods purchased (or produced) in a period divided by the total number of items purchased (or produced). Weighted Average Unit Cost is calculated by following formula:
Weighted Average Unit Cost = Total Cost of Inventory
/Total Units in Inventory
Total value purchased in July = $1,400+$220 = $1,620
Weighted Average Unit Cost = ($380+$1,620)/100 = $20
Ending inventory = 30 x $20 = $600
Noted: The company did not have date of selling merchandise. In the situation, assuming that the company uses periodic inventory system.
Answer:
c. Time series analysis
Explanation:
Time series analysis is a type of technique used in statistics to analyse data that are based on time and current happenings. Such data are time and period based.
There are 3 types of time series analysis data.
a. Pooled data.
b. Cross section data.
c. Time series data.
Time series analysis helps to determine seasonal variance, trends and future forecast.
<h3>Two ways in which can adapt to the challenges of the business environment</h3>
- Recognize the Size of the Change
- Be open to new and different ideas
Today's business concerns are more pressing than ever before. Businesses are competing on a much greater scale as a result of technical advancements and globalization. And, in light of the current economic and health crises, business owners confront an even greater challenge: prospering, not just surviving. Here are four strategies to explore in order to assist your company adjust amid difficult times.
<h3>1. Recognize the Size of the Change</h3>
- To most seasoned company and executive leaders, the word 'adapting' may sound cliché. Adaptability, on the other hand, in the context of business simply means being open to new ideas and methods. Accept that the world is changing at a quick speed, and that in order for businesses to thrive, they must adapt their strategy to meet the demands of the moment.
<h3>2. Be open to new and different ideas.</h3>
- In order to be competitive, a business owner needs understand a few things. The first step is to think about what other options you have. Consider your backup plans and procedures in case the market situation changes unexpectedly. A business owner must constantly be prepared for any kind of tweaks and changes that their company may experience, and have a contingency plan in place that can be implemented promptly.
Jordan is exhibiting an Autocratic leadership style.
- An autocratic management style is one in which just one person makes decisions and solicits little feedback from the rest of the group.
- Autocratic leaders do not consider the opinions or ideas of their staff when making judgments or choices; instead, they act according to their own beliefs.
- Authoritarian, directive, or monothetic are further terms for the autocratic leadership style.
- The majority of the time, an autocratic leadership style can be detrimental since it can cause group members to feel uncomfortable and fearful of the leader's power.
- The group members may become demoralized since they are unable to share their thoughts or apply their knowledge or skills in certain situations because the autocratic leader makes decisions on his own with little to no involvement from the subordinates.
<h3>What is a disadvantage associated with the participative style of leadership?</h3>
- They developed a democratic leadership style through their study, which is now known as the participative leadership theories.
- However, there are drawbacks to participative leadership, including longer decision-making times, a decreased effectiveness with inexperienced personnel, and potential risks associated with information sharing.
<h3>What is participative leadership and how will the leader benefit from this?</h3>
- An organization that uses participatory leadership reaps a variety of advantages.
- You may increase employees' awareness, encourage their contributions, and boost their morale by incorporating them in business decisions.
- Continue reading if you think your workplace would benefit from this.
Learn more about participative style of leadership here:
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