Date transaction number of units unit cost/price jan. 1 beginning inventory 500 $ 10 feb. 25 sale 300 20 may 21 purchase 400 12 jul. 15 purchase 500 15 dec. 10 sale 800 20 all purchase/sale transactions are made on credit. the company uses the fifo method and perpetual inventory system to record transactions. the entry to record the transaction on december 10 will involve a debit to cost of goods sold for

David consumes two things: gasoline (g) and bread (b). david's utility function is u(g, b) = 10g^0.25 b^0.75. use the lagrange technique to solve for david's optimal choices of gasoline and bread as a function of the price of gasoline, p_g, the price of bread, p_b, and his income m. with recent decrease in the price of gasoline (maybe due to external shock such as shale gas production) does david increase his consumption of gasoline? for david, how does partial differential g/partial differential p_g depend on his income m? that is, how does david's change in gasoline consumption due to an increase in the price of gasoline depend on his income level? to answer these questions, find the cross-partial derivative, |partial differential^2 g/partial differential m partial differential p_g.