The government of Wrexington, a country which has adopted American GDP accounting conventions, has calculated that the seasonally-adjusted market value of all final goods and servicesproduced within Wrexington in quarter 1 was $5 billion. The government will report that GDP in quarter 1 was a.$1.25 billion at an annual rate. b.$4 billion at an annual rate. c.$5 billion at an annual rate. d.$20 billion at an annual rate

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: