Kays Diamonds uses a periodic inventory system. The company had five bracelets available for sale this year: one was purchased on June 1 for $1,100, two were purchased on July 9 for $1,250 each, and two were purchased on September 23 for $1,350 each. On December 24, it sold one bracelet. Using the FIFO method, its cost of goods sold for the year ended is:

Which is cheaper: eating out or dining in? the mean cost of a flank steak, broccoli, and rice bought at the grocery store is $13.04 (money. msn website, november 7, 2012). a sample of 100 neighborhood restaurants showed a mean price of $12.75 and a standard deviation of $2 for a comparable restaurant meal. a. develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean cost of a restaurant meal is less than fixing a comparable meal at home. b. using the sample from the 100 restaurants, what is the p-value? c. at a = .05, what is your conclusion? d. repeat the preceding hypothesis test using the critical value approach