Fancy flooring inc. began the current month with inventory costing $25,000, then purchased inventory at a cost of $180,000. the perpetual inventory system indicates that inventory costing $120,000 was sold during the month for $140,000. if an inventory count shows that inventory costing $90,000 is actually on hand at month-end, what amount of shrinkage occurred during the month?

Plastic and steel are substitutes in the production of body panels for certain automobiles. if the price of plastic increases, with other things remaining the same, we would expect: a) the demand curve for plastic to shift to the left. b) the price of steel to fall. c) the demand curve for steel to shift to the left d) nothing to happen to steel because it is only a substitute for plastic. e) the demand curve for steel to shift to the right