Explain whether the following would lead to an improvement or a deterioration in the terms of trade a. the price of the country’s exports rising while the price of its imports fall

b. the price of its imports rising faster than the price of exports

c. the price of its exports rising while the price of its imports remains the same

Regarding the flow of costs through the inventory accounts, which of the following statements is incorrect? a. the costs flow from raw materials inventory to work-in-process inventory to finished goods inventory. b. the format for computing the amount used, manufactured, or sold is the same for all three inventory accounts. c. the final amount at each stage is added at the beginning of the next stage. d. purchases of raw material and freight in are debited to the work-in-process inventory account.