Inventory 30 points compute the inventory methods for tv vison. suppose tv vison started march with an inventory of 50 plasma tvs that cost $2,010 each, for a total beginning inventory value of $100,500. during march, the firm made the following purchases: march 2 200 tvs for $2,000 each march 10 150 tvs for $1,800 each march 20 100 tvs for $1,500 each march 29 50 tvs for $1,000 each during march, the firm made the following sales: march 5 110 tvs for $4,000 each march 12 160 tvs for $4,000 each march 25 150 tvs for $4,000 each instructions: a] using periodic inventory record keeping, calculate the cost of goods sold for the month and the ending inventory at the end of the month. do these calculations using three methods, weighted average cost, fifo, and lifo. b] all other operating expenses amount to $250,000. calculate net income using each of the three methods. c] using the perpetual inventory record keeping, calculate the ending inventory and cost of goods sold for tv vison adopting the lifo and fifo methods. d] why do companies avoid the perpetual weighted moving average method of calculating inventory costs?

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer; comparing the additional benefits and costs;

answer; ///blank(1) longer; blank(2); lessi believe this is correct, plz check first; good luck';