Mateusz sells cameras from his shop on a main street in his city. He normally sells twenty cameras per month. He has been trying to increase the number of cameras he sells and as a result has improved his advertising, store signage, and utilization of social media to contact potential buyers in the most likely demographic group. Even with all of these efforts, sales have only improved by one camera per month. This month he decided that if he stocks his shelves with four times more cameras and sells them at the same price he is now offering them, he will sell four times more cameras. What is the fundamental flaw in his plan?

Waterway company’s record of transactions for the month of april was as follows. purchases sales april 1 (balance on hand) 672 @ $6.00 april 3 560 @ $11.00 4 1,680 @ 6.08 9 1,568 @ 11.00 8 896 @ 6.41 11 672 @ 12.00 13 1,344 @ 6.51 23 1,344 @ 12.00 21 784 @ 6.61 27 1,008 @ 13.00 29 560 @ 6.79 5,152 5,936 (a) calculate average-cost per unit. (b) assuming that periodic inventory records are kept in units only, compute the inventory at april 30 using lifo and average-cost. (c) assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) fifo and (2) lifo. (d) compute cost of goods sold assuming periodic inventory procedures and inventory priced at fifo.