A company's correct ending balance for the inventory account at the end of 20X1 should be $5,000, but the company incorrectly stated it as $3,000. In 20X2, the company correctly recorded its ending balance of the inventory account.
Which one of the following is true?

a) Gross profit is overstated by $2,000 in 20X1.
b) Retained earnings are understated by $2,000 in 20X2.
c) Gross profit is overstated by $2,000 in 20X2.
d) Cost of goods sold is understated by $2,000 in 20X1.

An outside manufacturer has offered to produce 60,000 daks and ship them directly to andretti's customers. if andretti company accepts this offer, the facilities that it uses to produce daks would be idle; however, fixed manufacturing overhead costs would be reduced by 75%. because the outside manufacturer would pay for all shipping costs, the variable selling expenses would be only two-thirds of their present amount. what is andretti's avoidable cost per unit that it should compare to the price quoted by the outside manufacturer?

Which statement best describes the variety of workplaces commonly found in the health science career cluster? a. workplaces in this cluster include healthcare facilities such as hospitals, physician offices, and clinics. b. workplaces in this cluster include healthcare facilities, laboratories, and other environments such as offices or homes. c . workplaces in this cluster include nonprofit hospitals, government-run clinics, and private physicians' offices. d. workplaces in this cluster include private and nonprofit hospitals and clinics, and dentists' offices.

Which of the following is not a characteristic of a weak economy? a. a low employment rateb. a high inflation ratec. a decreased gdpd. a high unemployment rate