Consider an investment with the following returns over four years:

Year 1 2 3 4

Return 15% 7% 9%11%

Which is a better measure of the investment's past performance? If the investment's returns are independent and identically distributed, which is a better measure of the investment's expected return next year?
Arithmetic average is a better measure of the investment's past performance while CAGR is a better measure of the investment's expected return next year.
CAGR is a better measure of the investment's past performance while arithmetic average is a better measure of the investment's expected return next year.

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.