Babal IncIs a Wholesaler of Electronics

question 26

Multiple Choice

Babal Inc.is a wholesaler of electronics.It purchased 1,200 units of Product X for $600 each during 2022.The selling price during the year was $800 per unit.At year end, it had 200 units on hand and due to changes in technology, the selling price will have to be reduced by 35% in order to sell them.The value of each unit of Product X for the year-end inventory presentation should be

• A)$600.
• B)-$600.
• C)$280.
• D)$520.

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Definitions:

Inclusive Union

A labor union that aims to represent a wide variety of workers, regardless of occupation or industry, focusing on broad-based membership and rights.

Perfectly Competitive

A market structure where there are many sellers and buyers, products are homogeneous, and there are no barriers to entry or exit.

Compensating Differences

Differences in the wages received by workers in different jobs to compensate for the nonmonetary differences between the jobs.

Wage Rates

Wage rates are the standard amount of compensation given to employees for their labor, typically expressed per hour or day.