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Question - Northwest Fur Co. started 2018 with $95,000 of merchandise inventory on hand. During 2018, $590,000 in merchandise was purchased on account with credit terms of 3/15, n/45. All discounts were taken. Purchases were all made f.o.b. shipping point. Northwest paid freight charges of $8,500. Merchandise with an invoice amount of $3,200 was returned for credit. Cost of goods sold for the year was $362,000. Northwest uses a perpetual inventory system.
Required - Assuming Northwest uses the gross method to record purchases, what is the cost of goods available for sale?
$672,696.
$694,200.
$690,300.
$672,600.
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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Create a cost-benefit analysis to evaluate the project
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Simple Interest, Compound interest, discount rate, force of interest, AV, PV
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