Please use the information below for Question 14 - 18. Please use FIFO inventory method.Emily is the owner and operator of “Wine Not”, a wine shop for those who like to try wines from lesser-known vintners. She has grown in popularity with her weekly “Wine-down Wednesdays” tastings and inventory is a consistent worry for her. As Emily’s bookkeeper, you have to ensure that her inventory levels are accurately accounted for at the beginning and end of each month.   In March, she ended with a total of 350 bottles with a cost of $15.00 each. In April, she ordered a total of 150 bottles with a cost of $17.00 each. During the month of April, she sold a total of 225 bottles. Question 14:What is the opening inventory value for April?  (Format answer with whole number, no decimal, $x,xxx)

A wine merchant buys a case of wine for a listed price of $144.00 less 27% from a wine distributor. Overhead is 37% of cost and profit is 51% of cost. For how much should the item be retailed?  $75.80   $211.35 Correct Answer  $197.62 You Answered  $159.78

In the market for alcoholic beverages, a business called Drive-thru Bottle Shop offers a variety of different bottled wines to their customers. They stock many brands, some being very well-known, with others less well known. Answer the following questions: If a wine has significant brand recognition and customer loyalty, then the point price elasticity of demand at a given price for this wine would be elastic than the point price elasticity of demand of a similar wine where the wine maker has little brand recognition and customer loyal, ceteris paribus. Type L for Less, M for More or E for Equally. The demand for a particular wine sees customers purchase 6,000 bottles of wine when the price is $7.99 per bottle, and only 5,000 bottles when the price was increased to $8.49 by the Drive-thru Bottle Shop management. What is the price elasticity of demand using the mid-point formula? . Answer to the nearest two decimal places. Assume the Drive-thru Bottle Shop is trying to maximise revenue. Considering your findings in part b., did the Drive-thru Bottle Shop’s decision to increase the price agree with increasing revenue? . Type Y for Yes, N for No, or U for Unknown.

Use the following inventory information for the month of July to answer the below question. July 1 Beginning inventory 20 units at $19 $380 July 7 Purchases 70 units at $20 $1 400 July 22 Purchases 10 units at $22 $220 $2 000 A physical count of inventory on July 30 reveals that there are 35 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for July is: Group of answer choices $680. $720. $1 280. $1 320.

ABC Co. uses a perpetual inventory system and uses the FIFO cost flow assumption. During the month, it had two sales. Calculate the dollar value of its cost of goods sold for the first sale made on Jan. 10.  DateActivity Jan 1Beginning Inventory 8 @ $12 = $96Jan 5Purchase12 @ $15= $180Jan 25Purchase10 @ $18= $180Jan 10Sale11 @ $50 eachJan 30Sale3 @ $55 eachMultiple choice question.$195$141$550$180

A company just starting business made the following four inventory purchases in June: June 1 150 Units $780 June 10 200 units $1 170 June 15 200 units $1 260 June 28 150 units $990 TOTAL $4 200 A physical count of inventory on June 30 reveals that there are 250 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is: Group of answer choices $2 835. $1,620. $2,580. $1,365.