Adam Inc uses a perpetual inventory system. Jan. 1 On hand, 10 units at $2 each $ 20 4 Sold 8 units for $10 each 80 22 Purchased 50 units at $4 each 200 26 Sold 48 units for $10 each 480 If Adam uses the LIFO method, how much is cost of goods sold for the month of January?

All the following choices exist for defining the denominator volume (denominator activity level) for assigning fixed overhead costs in a standard cost system, except:

a. Actual capacity utilization. b. Normal capacity. c. Theoretical capacity. d. Budgeted capacity utilization. e. Practical capacity.

______________ - pricing low worldwide in an attempt to build global sales volume as rapidly as possible, even if this means taking large losses initially

Fill in the blank(s) with the appropriate word(s).