Grays Company has inventory of 18 units at a cost of $6 each on August 1. On August 3, it purchased 28 units at $12 each. 20 units are sold on August 6. Using the FIFO perpetual inventory method, what amount will be reported as cost of goods sold for the 20 units that were sold

Which of the following is a competitive benefit experienced by the first mover firm in an industry? a. the first mover will be able to achieve a less steep learning curve. b. the first mover will be able to reduce the switching costs. c. the first mover will not have to patent its products or technology. d. the first mover will be able to reduce costs through economies of scale.