<span>First we must determine the cost of goods sold during November. For this we use beginning inventory ($368,000) + purchases ($217,500) - ending inventory ($226,750). This gives us a total cost of goods sold for November of $358,750.
Then, we take the net sales ($1,000,000) minus the cost of goods sold ($358,750) which equals our gross profit of $641,250.
Finally we divide gross profit ($641,250) by net sales ($1,000,000) to determine the gross profit rate to be 64.125%</span>
The correct answer of the given question above would be VALIDITY. The concept that refers to deciding exactly what is to be measured when assigning value to a variable is validity. I hope this is the answer you are looking for. Let me know when you need more help next time.
The focus of a blue ocean strategy is on lowering the economic value created, whereas a cost-leader focuses on increasing the economic value created.
Alpha level is a probability value that is used to define the concept of "very unlikely" in a hypothesis. This value determines he boundaries for the critical region, which is composed of the extreme sample values that are very unlikely to be obtained if the null hypothesis is true. Type I error is <span>when a researcher rejects a true null hypothesis.</span>
The relationship between the alpha level, the size of the critical region, and the risk of a type i error is the following: when the alpha level increases, the critical region increases and type I error increases.
Answer: B. FIFO method
Explanation: The inventory prices of goods as calculated by a firm will remain the same at year end if a firm's inventory price is automatically updated on account of any additional inventory purchase and also if done on a periodic basis. This will occur only when the inventory pricing system is based on First-in-First-out method, whereby the prices of first inventory purchase is first associated or applied on goods sold until the unit in the inventory is exhausted. This allows prices of goods to move based on period of purchase where older prices gets precedence over the newer inventory purchase.
