Data related to the inventories of Kimzey Medical Supply are presented below: Surgical Surgical Rehab Rehab Equipment Supplies Equipment Supplies Selling price $ 270 $ 130 $ 350 $ 175 Cost 180 100 260 172 Replacement cost 250 90 245 168 Costs to sell 34 7 39 14 Normal gross profit ratio 40 % 40 % 40 % 40 % In applying the lower of cost or market rule, the inventory of rehab equipment would be valued at:

Stormie zanzibar owns a bakery in the fictitious country of olombia. each month the government’s market ministry mails her a large list of the regulated price of goods which include products like bread, muffins and flat bread. the list also dictates the types of goods she can sell at the bakery and what she is to charge. because of the regulations placed on these goods, stormie has increased her production of sweets, pies, cakes, croissants and buns and decreased her supply of breads, muffins and flat bread. she has taken these steps because the sweet goods’ prices are not government controlled. stormie zanzibar lives under what type of economy?