Regression Analysis Was Applied Between Sales (In $1000) and Advertising

question 106

Multiple Choice

Regression analysis was applied between sales (in $1000) and advertising (in $100) and the following regression function was obtained. ​ = 500 + 4x
​
Based on the above estimated regression line, if advertising is $10,000, then the point estimate for sales (in dollars) is

• A) $900.
• B) $900,000.
• C) $40,500.
• D) $505,000.

Learn how to calculate the cost of goods sold and ending inventory using the LIFO and FIFO inventory valuation methods.

Identify the internal controls necessary for accurate physical inventory counting.

Understand the effects of inventory valuation methods on financial statements and tax implications.

Grasp the methods of inventory costing and their impact under varying market conditions.

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