At december 31, 2017 sheffield corp.'s inventory records indicated a balance of $888000. upon further investigation it was determined that this amount included the following:
▪ $186000 in inventory purchases made by sheffield shipped from the seller 12/27/14 terms fob destination, but not due to be received until january 2nd
▪ $114000 in goods sold by sheffield with terms fob destination on december 27th. the goods are not expected to reach their destination until january 6th
▪ $7500 of goods received on consignment from riverbed company
what is sheffield correct ending inventory balance at december 31, 2017?

When marietta chooses to only purchase a combination of goods that lie within her budget line, she: is decreasing utility. is maximizing utility. likely has negative savings. must reduce the quantity?

Consider how health insurance affects the quantity of health care services performed. suppose that the typical medical procedure has a cost of $160, yet a person with health insurance pays only $40 out of pocket. her insurance company pays the remaining $120. (the insurance company recoups the $120 through premiums, but the premium a person pays does not depend on how many procedures that person chooses to undergo.) consider the following demand curve in the market for medical care. use the black point (plus symbol) to indicate the quantity of procedures demanded if each procedure has a price of $160. then use the grey point (star symbol) to indicate the quantity of procedures demanded if each procedure has a price of $40. q d at p=$160 q d at p=$40 0 10 20 30 40 50 60 70 80 90 100 200 180 160 140 120 100 80 60 40 20 0 price of medical procedures quantity of medical procedures demand if the cost of each procedure to society is truly $160, the quantity that maximizes total surplus is procedures. economists often blame the health insurance system for excessive use of medical care. given your analysis, the use of care might be viewed as excessive because consumers get procedures whose value is than the cost of producing them.

Advanced enterprises reports year-end information from 2018 as follows: sales (160,250 units) $968,000 cost of goods sold 641,000 gross margin 327,000 operating expenses 263,000 operating income $64,000 advanced is developing the 2019 budget. in 2019 the company would like to increase selling prices by 14.5%, and as a result expects a decrease in sales volume of 9%. all other operating expenses are expected to remain constant. assume that cost of goods sold is a variable cost and that operating expenses are a fixed cost. should advanced increase the selling price in 2019?