The reuschel company began 2018 with inventory of 10,000 units at a cost of $7 per unit. during 2018, 50,000 units were purchased for $8.50 each.
sales for the year totaled 54,000 units leaving 6,000 units on hand at the end of 2018. reuschel uses a periodic inventory system and the lifo inventory cost method. required:
1. calculate cost of goods sold for 2018.
2. calculate the effect of the lifo on the income.

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency,government intervention can improve overall welfare o markets allocate goodseffectively