sells laser printers and supplies. Assume Boyd started the year with 90 containers of ink (average cost of $9.20 each, FIFO cost of $8.80 each, LIFO cost of $7.90 each). During the year, the company purchased 720 containers of ink at $10.10 and sold 580 units for $22.00 each. Boyd paid operating expenses throughout the year, a total of $5,000. Ignore income taxes for this exercise. Prepare Boyd's income statement for the current year ended December 31 using the average-cost, FIFO, and LIFO inventory costing methods. Include a complete statement heading. Complete the income statement by selecting the appropriate heading and income statement labels, and then calculating the amounts for each of the three required inventory methods. (Calculate unit costs to the nearest cent. Round all other calculations to the nearest whole dollar.) Average Cost Net income

the answer is b for dog

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; ///pegged exchange rate with the united states;