Your grandfather made $5/hour nominal wage in 1974. likewise, your father made $9/hour in 1994, and you $17/hour today. if inflation is constant at +3.5% per year, or +41% per decade, who had the highest real wage?

Regarding the flow of costs through the inventory accounts, which of the following statements is incorrect? a. the costs flow from raw materials inventory to work-in-process inventory to finished goods inventory. b. the format for computing the amount used, manufactured, or sold is the same for all three inventory accounts. c. the final amount at each stage is added at the beginning of the next stage. d. purchases of raw material and freight in are debited to the work-in-process inventory account.