Smith Company's inventory cost is $100. The expected sales price is $110, estimated selling costs are $6. The normal gross profit ratio is 20% of selling price. The replacement cost of the inventory is $95. Smith Company uses the LIFO inventory method so must use the lower of cost or market approach and this inventory item should be valued at

In a market economy, supply and demand are important because theya. (i) play a critical role in the allocation of the economy's scarce resources. b. (ii) determine how much of each good gets produced. c. (iii) can be used to predict the impact on the economy of various events and policies. d. all of (i), (ii), and (iii) are correct.

Evans used his credit card to run up a $98.75 bill with the rosen department store. when rosen tried to collect, evans wrote a check for $79.00. he wrote on the check that he meant it to be “full payment of all accounts to date.” rosen cashed the check. when rosen sued evans for the $19.75 balance, evans argued that under accord and satisfaction, the fact that rosen cashed the $79.00 check meant that it had accepted that amount as full payment. was evans correct? can anyone me out with this question?

Based on the lesson, how are individuals and economies similar? they both must decide how to allocate resources. they both must carefully categorize available resources. they both must recognize the issues with nonrenewable resources. they both must choose whether to use more renewable resources.