Refer to the Following Data: ​

question 28

Multiple Choice

Refer to the following data: ​
Net sales, first month
$13,000
Normal gross profit as a percentage of sales
45%
Inventory, start of period
$8,000
Net purchases, first month
$7,000
​
Using the gross profit method of inventory estimation, the amount of normal gross profit would be

• A) $5,850.
• B) $3,600.
• C) $6,750.
• D) $15,000.

Understand the role of government policies in shaping domestic and international trade environments.

Evaluate the influence of income distribution and consumption patterns on national economies.

Recognize the implications of first-mover advantages in global market entries.

Apprehend the relationship between trade policies and protection of domestic industries.

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Definitions:

Involuntary Response

A reflex action or response that occurs without conscious control, often as a protective mechanism.

Stimulus

An external factor or signal that triggers a physiological response in an organism.

Monogamous

Involving a relationship or mating system in which an individual has only one partner during their lifetime or at any one time.

Pheromones

Chemical substances produced and released into the environment by an animal, especially an insect or mammal, affecting the behavior or physiology of others of its species.