Notice that the goods available for sale are âallocatedâ to ending inventory and cost of goods sold. In the graphic, the inventory appears as physical units. But, in a companyâs accounting records, this flow must be translated into units of money. The following graphic illustrates this allocation process.
Average cost: Of all childcare options, in-home care is the priciest. On average, according to Payscale, an in-home nanny (who doesnât live with you) earns $13.36 per hour, but this varies wildly by location. In general, because the cost of living is higher in metropolitan areas, nannies get paid more there. If you want someone trained in CPR or a nanny with a degree in child education or development, expect to pay more. In Chicago, where I live, the going rate is $14 per hour.
Renting Costs in Chicago. Chicago may rival New York in terms of architectural splendor but the Windy City falls behind when it comes to rent prices. And thatâs a good thing for the cost of living in Chicago. According to myapartmentmap.com, the average rent for a Chicago apartment stands at $1,078 for a studio and $1,341 for a one-bedroom place. Upgrade to a two-bedroom and you can expect to pay around $1,744. A three-bedroom will run you $2,158.