imagine that a bakery has 10 loaves of bread at the close of business on december 31 3640352
Imagine that a bakery has 10 loaves of bread at the close of business on December 31, 2010. Valued at the baker’s price of $2.00, the value of the bakery’s inventory is $20.00. At the close of business on March 31, 2011, the baker has 15 loaves or $30.00 of bread on the shelves. 1. What is the level of the baker’s inventory on December 31, 2010, and on March 31, 2011? 2. What is the change in the baker’s inventories in the first quarter of 2011? 3. What is the implication of these numbers for the contribution of the baker’s inventories to GDP in the first quarter of 2011?
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