The units of an item available for sale during the year were as follows:

january 11 inventory 60 units @ $145

february 27 purchase 90 units @ $150

november 21 purchase 75 units @ $154

there are 48 units of the item in the physical inventory at december 31. the periodic inventory system is used.

determine the inventory cost by

(a) the first-in, first-out method,

(b) the last-in, first-out method, and

(c) the average cost method.

answer; automated fingerprint;

answersecondary succession;

answersituation analysis;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.