Riley Corporation sells bicycles. At the beginning of the year, there was one bicycle in inventory costing $800. Riley purchased another bicycle for $900 and then sold one of the bicycles for $1,100. How much should be allocated to Cost of goods sold using the first-in, first-out method (FIFO)

Retirement investment advisors, inc., has just offered you an annual interest rate of 4.4 percent until you retire in 40 years. you believe that interest rates will increase over the next year and you would be offered 5 percent per year one year from today. if you plan to deposit $13,000 into the account either this year or next year, how much more will you have when you retire if you wait one year to make your deposit?