Scenario 15-6: the concert promoters of a heavy-metal band, wer2loud, know that there are two types of concert-goers: die-hard fans and casual fans. for a particular wer2loud concert, there are 1,000 die-hard fans who will pay $150 for a ticket and 500 casual fans who will pay $50 for a ticket. there are 1,500 seats available at the concert venue. suppose the cost of putting on the concert is $50,000, which includes the cost of the band, lighting, security, etc.
refer to scenario 15-6. how much profit will the concert promoters earn if they set the price of each ticket at $50?
a. $25,000
b. $75,000
c. $100,000
d. $150,000

Waterway company’s record of transactions for the month of april was as follows. purchases sales april 1 (balance on hand) 672 @ $6.00 april 3 560 @ $11.00 4 1,680 @ 6.08 9 1,568 @ 11.00 8 896 @ 6.41 11 672 @ 12.00 13 1,344 @ 6.51 23 1,344 @ 12.00 21 784 @ 6.61 27 1,008 @ 13.00 29 560 @ 6.79 5,152 5,936 (a) calculate average-cost per unit. (b) assuming that periodic inventory records are kept in units only, compute the inventory at april 30 using lifo and average-cost. (c) assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) fifo and (2) lifo. (d) compute cost of goods sold assuming periodic inventory procedures and inventory priced at fifo.