The economic indicator that reflects the activity of the U.S. entitled without regard to where the activity takes place is GNP.
Gross national product (GNP) is an estimate of the total cost of all the final products and services grown to become out in a given duration via the way of production owned by a country's citizens.
Indicators of financial pastime financial signs consist of measures of macroeconomic performance (gross domestic product [GDP], intake, funding, and international alternate) and stability (central authorities' budgets, expenses, the cash supply, and the balance of payments).
Gross Domestic Product is essential as it offers records about the scale of the economy and the way an economy is performing. The increased price of actual GDP is often used as an indicator of the overall health of the economic system. In wide terms, growth in real GDP is interpreted as a sign that the economy is doing properly.
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Answer:
the ending inventory using the LIFO method is $1,225
Explanation:
The computation of the value of the inventory using the LIFO method is shown below;
Since there are 196 closing units
So,
= 146 units × $6 + 49 units × $7
= $882 + $343
= $1,225
The $6 come from
= $882 ÷ 147 units
And, $7 comes from
= $1,372 ÷ 196 units
Hence, the ending inventory using the LIFO method is $1,225
