Beech Corporation has three finished products (related to three different product lines) in its ending inventory at December 31, Year 1. The following table provides additional information about each product:

Product Cost Replacement Cost Selling Price Normal Profit Margin
101 $130 $140 $160 20%
202 $160 $135 $140 20%
303 $100 $80 $100 15%

Beech Corporation expects to incur selling costs equal to 5 percent of the selling price on each of the products. Determine the amount at which Beech should report its inventory on the December 31, Year 1, balance sheet under (1) IFRS and (2) U. S. GAAP.

How do patents and copyrights encourage innovation? they limit the number of inventions an individual may patent or copyright, so more people can invent things. they prevent inventors and other creative people from making huge profits, thus keeping prices low for consumers. they grant companies the right to copy the inventions and creative works of individuals at little or no cost. they give inventors and writers exclusive rights to make and sell their inventions and works, possibly making large profits?

You have just received notification that you have won the $2.0 million first prize in the centennial lottery. however, the prize will be awarded on your 100th birthday (assuming you're around to collect), 66 years from now. what is the present value of your windfall if the appropriate discount rate is 8 percent?

Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities.required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.