Walmart uses LIFO to account for its inventories. Recent financial statements were used to compile the following information (dollar figures are in millions). Average inventory (throughout the year) $ 45,000 Current assets (at year-end) 63,278 Current liabilities (at year-end) 65,272 Sales 482,229 Cost of goods sold 365,086 Gross profit 117,143 Required: Using the information provided, compute the following measures based upon the LIFO method. a-1. Compute the inventory turnover rate. (Round your answer to 2 decimal places.) a-2. Compute the current ratio. (Round your answer to 2 decimal places.) a-3. Compute the gross profit rate. (Round your percentage answer to 1 decimal place (i. e. .1234 should be entered as 12.3))

Consider the following scenarios. use what you have learned to decide if the goods and services being provided are individual, public, or merit goods. for each case, state what kind of good has been described and explain your answer using the definitions of individual, public, and merit goods. (6 points each) 1. from your window, you can see a city block that's on fire. you watch city firefighters rescue people and battle the flames to save the buildings. 2. while visiting relatives, you learn that your cousins attend a nearby elementary school that is supported financially by local property tax revenue. 3. you see a squadron of military jets flying overhead. 4. you find out that your aunt works for a defense manufacturing company that has several defense contracts with the government. she tells you that she works for a team that is producing a communications satellite. 5. your class visits a local jail run by a private, profit-making company that detains county criminals and is paid with tax revenue.

Sonic corp. manufactures ski and snowboarding equipment. it has estimated that this year there will be substantial growth in its sales during the winter months. it approaches the bank for credit. what is the purpose of such credit known as? a. expansion b. inventory building c. debt management d. emergency maintenance

Providing a great shopping experience to customers is one of the important objectives of purple fashions inc., a clothing store. to achieve this objective, the company has a team of committed customer service professionals whose job is to ensure that customers get exactly what they want. this scenario illustrates that purple fashions is trying to achieve