Below is information regarding inventory purchased and sold by Pikes Peak Tea Company: Pikes Peak had no beginning inventory in 2016, and during 2016 it purchased inventory of 100 tea kettles for $60 each. In 2017, Pikes Peak Tea Company sold 80 tea kettles for a retail price of $90 each. In 2018, the replacement cost of the tea kettles changed to $50 per tea kettle. Pikes Peak did not sell any inventory in 2018. Which of the following statements are correct for Pikes Peak Tea Company? I. Pikes Peak would have a total ending inventory of $1,200 at the end of 2018
II. Pikes Peak would record a credit to inventory for a total of $4,800 in 2017
III. Pikes Peak would record a debit to cost of goods sold for $200 in 2018

a. I, II, and Ill are all correct statements
b. ll and Ill are the only correct statements, not
c. I and II are the only correct statements, not III
d. III is the only correct statement, not I and II
e. ll is the only correct statement, not I or III

When making a major purchase, i often spend months to learn all the issues?

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He cheyenne hotel in big sky, montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. an occupancy-day represents a room rented out for one day. the hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer. month occupancy- days electrical costs january 1,736 $ 4,127 february 1,904 $ 4,207 march 2,356 $ 5,083 april 960 $ 2,857 may 360 $ 1,871 june 744 $ 2,696 july 2,108 $ 4,670 august 2,406 $ 5,148 september 840 $ 2,691 october 124 $ 1,588 november 720 $ 2,454 december 1,364 $ 3,529 required: 1. using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. (do not round your intermediate calculations. round your variable cost answer to 2 decimal places and fixed cost element answer to nearest whole dollar amount) 2. what other factors other than occupancy-days are likely to affect the variation in electrical costs from month to month? (you may select more than one answer. single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) seasonal factors like winter or summer. systematic factors like guests, switching off fans and lights. number of days present in a month. fixed salary paid to hotel receptionist. income taxes paid on hotel income.