1. Assume a particular stock has an annual standard deviation of 37 percent. What is the standard deviation for a three-month period? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)
2. On December 31 of last year, Wolfson Corporation had in inventory 570 units of its product, which cost $19 per unit to produce. During January, the company produced 970 units at a cost of $22 per unit. Assuming that Wolfson Corporation sold 1,040 units in January, what was the cost of goods sold?