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jekas [21]
3 years ago
8

Use your notes to explain how prices affect demand.

Business
1 answer:
abruzzese [7]3 years ago
7 0

Answer:

Amount of a product people purchase at various prices. ... There exists an inverse relationship between price and quantity demanded. As the price of a good or service goes up, the number sold (quantity demanded) goes down. As the price of a good or serve goes down, the number sold (quantity demanded) goes up.

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The following information pertains to Company A's Year 1 inventory activities:
NikAS [45]

Answer:

1 & 5) FIFO Ending Inventory $ 10,800

2) moving average:   $  10,400

3) weighted average $  9,520

4) LIFO                       $  8,800

Explanation:

January 1 Beg Inv  90 $40 subtotal: $   3,600

May 15 Purchase 160 $65 subtotal:<u>  $ 10,400   </u>

                units:   250          total:       $ 14,000

April 11 Sale 50 $70

July 25 Sale 30 $75

Total sales   80 units

Ending Inventory: 250 - 80 = 170 units

<u> FIFO </u>the ending inventory is compose of the last nits

As it follows a crhonological order is the same under periodic and perpetual:

We start from the top

May 15th 160 at 65$   $10,400

170 - 160 units = 10 units

January 1 Beg Inv  10 units at  $40 = $ 400

Total ending inventory: $ 10,800

<u>Moving average: </u>

the average is calculate based on the aailable good at hand before eahc purchase:

At April 11th the company's available goods are the beginning invenory thus the COGS is

50 units x 40 dollars each = 2,000

Then, at July 25th the inventory available is:

40 units at $40 dollars          =    1,600

and 160 units at 65 dollars   = <u> 10,400  </u>

total   200 units at                    12,000

Average: $12,000 / 200 units = $60 per unit

COGS: 30 units x $60 = 1,800

Total cost: 2,000 + 1,600 = 3,600

Ending inventory: 14,000 - 3,600 = 10,400

<u>Weighted average:</u>

we divide total goods available over the total units purchased:

14,000 / 250  = 56 dollar per unit

ending inventory 170 units x 56 per unit = $ 9,520

<u>LIFO:</u>

the last units are sold while the first are ending inventory we start from the top part :

January 1 Beg Inv  90 $40 subtotal: $   3,600

170 units - 90 units = 80 units

May 15 Purchase 80 $65 subtotal:   $<u>   5,200  </u>

                                      Total             $    8,800

8 0
3 years ago
Which of the following would be considered unemployed? a. Mark, laid off from his job as a bricklayer, returned to school full-t
Vinil7 [7]

Answer: Option D is unemployed.

Explanation:

Option A is currently fully occupied with his education.

Option B, Janice is still in college and not fully into the labor market.

Option C, is a high school student, just looking for a part time job, not really unemployed.

Option D, is not really engaged in any job or education, so currently unemployed.

8 0
3 years ago
Economic integration is a process of eliminating restrictions on international trade, payments, and factor mobility. Economic in
valina [46]

Answer:

True

Explanation:

Economic integration refers to an agreement between countries to eliminate trade barriers and coordinate their monetary policies. The integration allows to reduce trade costs, more employment opportunities as there is mobility and market expansion. Usually, this is considered a regional trading arrangement as it tends to be between neighboring countries. An example of a economic integration is the European Union. According to  this, the statement is true.

4 0
3 years ago
Before being simplified, the instructions for computing income tax in Country R were to add 2 percent of one's annual income to
daser333 [38]

Answer:

A

Explanation:

5 0
3 years ago
A building is an example of a _____ because it is a cost that does not change as output changes. fixed cost variable cost market
Anna11 [10]
The answer to this question is "Fixed Cost." this is because it doesn't change so it's fixed on one price!
6 0
3 years ago
Read 2 more answers
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