Acompany’s normal selling price for its product is $28 per unit. however, due to market competition, the selling price has fallen to $23 per unit. this company's current inventory consists of 120 units purchased at $24 per unit. replacement cost has fallen to $21 per unit. calculate the value of this company's inventory at the lower of cost or market.

Which is cheaper: eating out or dining in? the mean cost of a flank steak, broccoli, and rice bought at the grocery store is $13.04 (money.msn website, november 7, 2012). a sample of 100 neighborhood restaurants showed a mean price of $12.75 and a standard deviation of $2 for a comparable restaurant meal. a. develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean cost of a restaurant meal is less than fixing a comparable meal at home. b. using the sample from the 100 restaurants, what is the p-value? c. at a = .05, what is your conclusion? d. repeat the preceding hypothesis test using the critical value approach