The following information for Tuell Company is available: Case 1 2 3 4 5 Cost $5.00 $5.00 $5.00 $5.00 $5.00 Net realizable value 5.20 5.50 4.90 4.30 4.70 Net realizable value less normal profit 4.90 5.40 4.80 4.00 4.60 Replacement cost 5.30 5.30 4.60 4.15 4.90 Required: 1. Assume Tuell uses the LIFO cost flow assumption. What is the correct inventory value in each of the preceding situations under U. S. GAAP

Jaynet spends $30,000 per year on painting supplies and storage space. she recently received two job offers from a famous marketing firm – one offer was for $85,000 per year, and the other was for $120,000. however, she turned both jobs down to continue a painting career. if jaynet sells 40 paintings per year at a price of $4,000 each:

Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.

The prebisch–singer hypothesis concludes that: a. technology lowers the cost of manufactured products, so developing countries should see an increase in their terms of trade. b. developing countries experience a long-run decline in their terms of trade, as the demand for primary products in higher-income countries declines relative to their demand for manufactured goods. c. because of unfair trading practices, labor in developing countries is exploited. d. opec has been responsible for a slowdown in the world's standard of living.