In 1983,one Could Buy a Model Radio-Controlled Airplane for $11

question 79

Multiple Choice

In 1983,one could buy a model radio-controlled airplane for $11.50 each.Those same planes are available today and the price increased at exactly the rate of inflation.If the CPI today is 220.5 and in 1983 was 105,what is the price of the airplane today?

• A)$24.15
• B)$11.50
• C)$5.48
• D)$2.10

Explain the physiological and environmental basis of circadian rhythms in animals.

Define group living's benefits and costs in animal societies.

Understand the sources and impacts of greenhouse gases on Earth's climate.

Identify and analyze the organization levels in ecological studies.

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Definitions:

Estimated Cost

An approximation of the cost to produce a product, start a project, or execute a plan, often used in budgeting and planning.

Gross Profit Method

An accounting technique used to estimate inventory levels and cost of goods sold, calculated as sales minus the cost of goods sold.

Estimated Gross Profit Rate

A projected figure that calculates the percentage of gross profit to sales, used for analyzing a company's financial health.

Inventory Turnover

A metric that indicates how many times a company’s inventory is sold and replaced over a specific period.