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Vsevolod [243]
2 years ago
6

Select the BEST answer choice.

Business
1 answer:
Kobotan [32]2 years ago
4 0

Government can demonstrate its economic involvement by <em>d. manages regulatory programs.</em>

According to the regulation on consumer services, Sam's Super Healthy Candy must inform consumers about the added sugar in its products. For failing to do this, the government severely fined the company. In this way, the government shows that it is involved in the economy through its regulatory activities.

The government does not show its economic involvement by only <em>maintaining competition, producing goods and services, or providing welfare services.</em>

Thus, the government demonstrates its economic involvement by <em>regulating the activities of commercial entities.</em>

Learn more: brainly.com/question/19663917

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Answer:

Ending inventory is $424,045

Cost of goods sold is $889,955

Explanation:

Retail Inventory method is used to estimate the value of inventory using retail price of the unit of inventory.

As per given data

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Beginning inventory               $370,000   $515,000

Net purchases                        $890,000   $ 1,280,000

Freight-in                                $54,000

Net markups                                                $55,000

Net markdowns                                           $25,000

Net sales                                                      $1,235,000

Cost of Purchase = 890,000 + 54,000 = $944,000

Retail Price of Purchases = Net Purchases Retail + ( Net Markup ) = $1280,000 + ( 55,000 - 25,000 ) = 1,310,000

Cost to retail Percentage = ( $944,000 / $1,310,000 ) x 100 = 72.06%

Closing Inventory = Purchases + Net Markup - Sales = $1,280,000 + ( $944,000 / $1,310,000 ) - $1,235,000 = $75,000

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Beginning inventory  $515,000   $370,000

Net purchases           <u>$75,000</u>     <u> $54,045</u>  ( $75,000 x 72.06% )

Ending Inventory       <u>$590,000</u>   <u>$424,045</u>

Closing Inventory = Opening + Purchases - Closing = $370,000 + ( 890,000 + 54,000 ) - 424,045 = $889,955

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