Suppose big country can produce 80 units of x by using all its resources to produce x or 60 units of y by devoting all its resources to y. comparable figures for small nation are 60 units of y. assuming constant costs, in which product should each nation specialize?

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.