Presented below is information related to culver company. cost retail beginning inventory $292,298 $276,000 purchases 1,389,000 2,153,000 markups 95,800 markup cancellations 15,400 markdowns 37,500 markdown cancellations 4,600 sales revenue 2,196,000 compute the inventory by the conventional retail inventory method. (round ratios for computational purposes to 0 decimal places, e. g. 78% and final answer to 0 decimal places, e. g. 28,987.) ending inventory using conventional retail inventory method $

Nominal gross domestic producta. is a measure of the overall level of pricesb. measures the value of final goods and services produced within the borders of a given country during a given time period using current pricesc. measures the value of final goods and services produced within the borders of a given country during a given time period corrected for changing pricesd. only changes when the level of output changes

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

You hear your supervisor tell another supervisor that a fire drill will take place later today when the fire alarm sounds that afternoon you should