Use the Internet to research the annual report of at least one (1) merchandising company. Determine which costing method (Last In First Out [LIFO], First In First Out [FIFO], or weighted average cost) that is used to record inventory by your selected company.
Identify the three (3) primary advantages and three (3) primary disadvantages of using the costing method (LIFO, FIFO, and weighted average) that is used to record inventory.
Provide support for your response.
“Families and Education” Please respond to one (1) of the following:
The definition of marriage has changed over the past years and the recent Supreme Court ruling. Review Figure 11.6 on page 276 of the textbook. Identify your state’s status on same-sex marriage. Explain which sociological concept best supports the changing attitude towards same sex marriage (depicted in Figure 11.5 on page 276 of the textbook).
According to the National Center for Education Statistics (2013) on page 307 of your textbook, eight (8) percent of U.S. students dropped out of high school which is an issue for parents, educators, and the community. Use the Internet to research and identify the high school drop-out rate for your city. Discuss two (2) of the possible effects that your city’s high school drop-out rate may have on the community. Provide a rationale for your response.
Please respond to the following:
View the clip below, in which one person believes they are partners and the other believes it is an employer / employee relationship. Agents may bind the principal in a number of ways. When you are reviewing the video, consider whether the intentions / understanding of each party make a difference, and then respond to the discussion question below.
Clip – Agency – Richard Gere: You Work For Me (2012) (0:45)
As a small-business owner, you are faced with rising costs, particularly employment costs, insurance, et cetera. So, you decide to hire some friends and pay them as they work, rather than go through the expense and procedure of bringing in “actual” employees. Your friends wear the business uniform, deal with vendors and customers, and tell friends and family that they work for the business. One friend / employee orders way too much from a vendor. The vendor has dealt with the person numerous times; in fact, the person has been ordering from the vendor for months.
Since the person who ordered was not an ”employee,” but a friend you hired, are you liable to pay for the improper order?
Discuss the implications of agency that apply in this situation, and describe at least one (1) way the company may be able to cancel or return the order in question.
Be sure to support your legal analysis with concepts and definitions from the reading.
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