The management of National Inc. asks your help in determining the comparative effects of the FIFO and LIFO inventory cost flow methods. For 2017, the accounting records show these data. Inventory, January 1 (10,000 units) $ 35,000
Cost of 120,000 units purchased  468,500
Selling price of 98,000 units sold  750,000
Operating expenses  124,000
Units purchased consisted of 35,000 units at $3.70 on May 10, 60,000 units at $3.90 on August 15, and 25,000 units at $4.20 on November 20. Income taxes are 28%.
Instructions:
Prepare comparative condensed income statements for 2017 under FIFO and LIFO. (Show computations of ending inventory.)
Gross profit:
FIFO $378,800
LIFO $362,900

What does the phrase limited liability mean in a corporate context?

Afreelance​ singer-songwriter is planning the restoration of a recently purchased civil​ war-era farmhouse. while he professes an enjoyment​ of, and talent in the construction​ trades, the theory of comparative advantage implies that a. the value of what he imports​ (in this​ case, professional contractor​ services) must equal the value of what he exports​ (songs). b. he should concentrate on the restoration work since his​ out-of-pocket costs will be much lower than if he hires professionals. c. ​self-sufficiency is​ advantageous, hence he should split his time between music and construction. d. the income lost while away from music will likely exceed the savings realized by doing the work​ himself, thus, he should hire professionals to do the restoration work. e. he ought to do as much of the work himself as possible since imports​ (in this​ case, professional contractor​ services) should always be restricted to those things that cannot be done internall

The new york stock exchange is an example of what type of stock market?