The more inelastic are demand and supply, the greater is the deadweight loss of a tax.

The First Amendment prohibits state regulation of deceptive commercial advertising.

The corporation can also borrow funds, thereby accumulating

A) shares.
B) debt.
C) bonds.
D) assets.
E) trustees.

As diversification increases, the unsystematic risk of a portfolio approaches

A) 1.
B) 0.
C) infinity.
D) (n −1) × n.

Which of the following is asserted by the PRSA Professional Values Statement?

A) provide subjective counsel to clients
B) advance personal and corporate interests
C) serve the public by communicating honestly
D) foster the right to compete for public trust

Unlike a monopolistic firm's product, a monopolistically competitive firm's product

A) is homogeneous.
B) is a unique product.
C) has many close substitutes.
D) has no close substitutes.

FIRO measures three basic needs: inclusion,affection,and

A) leadership.
B) acceptance.
C) comparison.
D) control.
E) esteem.

On July 1, the Lavaca Company began business with the purchase of 250 units of inventory for $21, 625.During the month, Lavaca had the following inventory transactions:
$\begin{array}{ll}\text{ Date }& \\ \text{ July }6& \text{ Purchased }100\text{ units @ }\$75\text{ per unit. }\\ 11& \text{ Sold }200\text{ units. }\\ 17& \text{ Sold 85 urits. }\\ 24& \text{ Purchased }100\text{ units }@\$125\text{ per unit }\\ 28& \text{ Purchased }50\text{ units }@\$110\text{ per unit. }\\ 30& \text{ Sold }100\text{ unite }\end{array}$ Required:
Compute the cost of the inventory at the end of July under the following alternatives:
a. \quad FlFO periodic
b. \quad FIFO perpetual
c. \quad LIFO periodic
d. \quad LIFO perpetual
e. \quad Weighted average (round unit costs to 2 decimal placess
f. \quad Moving average (round unit costs to 2 decimal places)