The inventory of Cullumber Company was destroyed by fire on March 1. From an examination of the accounting records, the following data for the first 2 months of the year are obtained:
Sales Revenue $51,000.
Sales Returns and Allowances $1,100.
Purchases $31,000.
Freight-In $1,200, and Purchase Returns and Allowances $1,500.
Required:
Determine the merchandise lost by fire, assuming:
1. A beginning inventory of $20,000 and a gross profit rate of 40% on net sales.
2. A beginning inventory of $30,000 and a gross profit rate of 30% on net sales.

The table shows the demand and supply schedules for magazines. complete the following sentences. the equilibrium price of a magazine is $ 4 and the equilibrium quantity is 150 magazines a week. price (dollars per magazine) quantity demanded quantity supplied (magazines per week) 3.00 160 138 3.50 155 144 4.00 150 150 4.50 145 156 5.00 140 161 now a fall in the price of a newspaper decreases the quantity demanded by 11 magazines a week at each price. at the original equilibrium price, a occurs. to return to equilibrium, the price of a magazine a. surplus; rises b. shortage; rises c. shortage; falls d. surplus; falls as the market returns to equilibrium, the quantity demanded and the quantity supplied a. decreases; increases b. decreases; decreases c. increases; decreases d. increases; increases the new equilibrium price is $ nothing a magazine.

Which ranks these careers that employers are most likely to hire from the least to the greatest?

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.