A company had inventory on July 1 of 5 units at a cost of $16 each. On July 2, they purchased 9 units at $28 each. On July 6 they purchased 5 units at $25 each. On July 8, 8 units were sold for $58 each. Using the LIFO periodic inventory method, what was the value of the inventory on July 8 after the sale?

What criteria does a company have to meet to be considered a monopoly?

Why do you think the federal government commits so much time and so many resources to supporting small businesses when they make less of a contribution to the overall economy than large corporations?

Aiden is 19 years old, unmarried, and was a first-year full-time student working on a degree in accounting during 2018. he has never had a felony drug conviction. aiden did not provide more than half of his own support and can be claimed as a dependent by his mother. aiden’s income was $4,000 in wages working as a part-time cook at a fast food restaurant. aiden received form 1098-t indicating $5,000 for payments received for qualified tuition and related expenses in box 1. he received $8,500 in scholarships and grants, which was reported in box 5. aiden’s scholarship was used to pay for room and board, tuition, and books. the cost of his books was $845. aiden is a u.s. citizen with a valid social security number. 1. which of the following statements is true? a. the portion of the scholarship that was not used for qualified educational expenses must be included in aiden's income. b. the amount spent on books is not a qualified education expense. c. the taxable portion of the scholarship must be reported on aiden's mother’s return. d. none of aiden's scholarship is taxable.