Sheridan company took a physical inventory on december 31 and determined that goods costing $222,000 were on hand. not included in the physical count were $35,000 of goods purchased from windsor, inc., fob, shipping point, and $21,000 of goods sold to bonita industries for $32,000, fob destination. both the windsor purchase and the bonita sale were in transit at year-end. what amount should sheridan report as its december 31 inventory?

An increase in the market price of men's haircuts, from $16 per haircut to $26 per haircut, initially causes a local barbershop to have its employees work overtime to increase the number of daily haircuts provided from 20 to 25. when the $26 market price remains unchanged for several weeks and all other things remain equal as well, the barbershop hires additional employees and provides 40 haircuts per day. what is the short-run price elasticity of supply? nothing (your answer should have two decimal places.) what is the long-run price elasticity of supply? nothing (your answer should have two decimal places.)