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1. On January 1, 2013, Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2013 and 2014 are as follows:
Required:1. Estimate the 2013 and 2014 ending inventory and cost of goods sold using the dollar-value LIFO retail method.2. Estimate the 2013 ending inventory and cost of goods sold using the average cost method.3. Estimate the 2013 ending inventory and cost of goods sold using the conventional retail method (average,LCM).
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
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