Inventory information for part 311 of monique aaron corp. discloses the following information for the month of june. june 1 balance 300 units @ $10 june 10 sold 200 units @ $24 11 purchased 800 units @ $12 15 sold 500 units @ $25 20 purchased 500 units @ $13 27 sold 300 units @ $27 why is it stated that lifo usually produces a lower gross profit than fifo?

10. problems and applications q10 a market is described by the following supply-and-demand curves: qsqs = = 2p2p qdqd = = 300â’p300â’p the equilibrium price is $ and the equilibrium quantity is . suppose the government imposes a price ceiling of $90. this price ceiling is , and the market price will be $ . the quantity supplied will be , and the quantity demanded will be . therefore, a price ceiling of $90 will result in . suppose the government imposes a price floor of $90. this price floor is , and the market price will be $ . the quantity supplied will be and the quantity demanded will be . therefore, a price floor of $90 will result in . instead of a price control, the government levies a tax on producers of $30. as a result, the new supply curve is: qsqs = = 2(pâ’30)2pâ’30 with this tax, the market price will be $ , the quantity supplied will be , and the quantity demanded will be . the passage of such tax will result in .