Pharoah company sells a snowboard, ezslide, that is popular with snowboard enthusiasts. below is information relating to pharoah company’s purchases of ezslide snowboards during september. during the same month, 95 ezslide snowboards were sold. pharoah company uses a periodic inventory system.
date explanation units unit cost total cost
sept. 1 inventory 13 $104 $ 1,352
sept. 12 purchases 46 107 4,922
sept. 19 purchases 54 108 5,832
sept. 26 purchases 21 109 2,289
totals 134 $14,395
(a) compute the ending inventory at september 30 using the fifo, lifo and average-cost methods.(b) compute the cost of goods sold at september 30 using the fifo, lifo and average-cost methods.

You manage an equity fund with an expected risk premium of 10% and a standard deviation of 14%. the rate on treasury bills is 6%. your client chooses to invest $60,000 of her portfolio in your equity fund and $40,000 in a t-bill money market fund. what is the expected return and standard deviation of return on your client’s portfolio?

Suppose the price of frozen yogurt, a substitute for ice cream, increases. what happens to equilibrium price and quantity of ice cream? a. the price and quantity of ice cream both increase b. the price and quantity of ice cream both decrease c. the price of ice cream increases and the quantity decreases d. the price of ice cream decreases and the quantity increases

Grant, inc., acquired 30% of south co.’s voting stock for $200,000 on january 2, year 1, and did not elect the fair value option. the price equaled the carrying amount and the fair value of the interest purchased in south’s net assets. grant’s 30% interest in south gave grant the ability to exercise significant influence over south’s operating and financial policies. during year 1, south earned $80,000 and paid dividends of $50,000. south reported earnings of $100,000 for the 6 months ended june 30, year 2, and $200,000 for the year ended december 31, year 2. on july 1, year 2, grant sold half of its stock in south for $150,000 cash. south paid dividends of $60,000 on october 1, year 2. before income taxes, what amount should grant include in its year 1 income statement as a result of the investment?