Harvey's junk jewelry started business

harvey's junk jewelry started business january 1, 2016, and uses the lifo retail method to estimate ending inventory. listed below is data accumulated for the year ended december 31, 2016:

cost retail
beginning inventory $15,000 $23,000
purchases 49,000 78,000
freight-in 2,500
purchase returns 1,700 2,600
net markups 2,000
net markdowns 4,100
net sales 70,600
employee discounts 700
to the nearest thousand, the estimated ending inventory at cost is (round cost-to-retail ratio to whole percentage):

(a) $16,000.
(b) $15,000.
(c) $13,000.
(d) $19,000.

Which of the following is false regarding the links between jit and quality? a. jit increases the cost of obtaining good quality. b. as quality improves, fewer inventory buffers are needed; in turn, jit performs better. c. jit reduces the number of potential sources of error by shrinking queues and lead times. d. inventory hides bad quality; jit immediately exposes it. e. if consistent quality exists, jit allows firms to reduce all costs associated with inventory.

Cool beans is a locally owned coffee shop that competes with two large coffee chains, planeteuro and frothies. alicia, the owner, hired two students to count the number of customers that entered each of the coffee shops to estimate what percent of people who are interested in coffee are visiting each shop. after a week, the students found the following results: 589 visited cool beans, 839 visited planeteuro, and 1,290 visited frothies. the students were surprised that cool beans had 139 visits on monday which represented 59% of all people who visited one of the three coffee shops on mondays. how many people visited one of the three coffee shops during the week?

Which of the following is not a characteristic of a weak economy? a. a low employment rateb. a high inflation ratec. a decreased gdpd. a high unemployment rate