Kelly and Company began the year with $3,000 in inventory. During the year, it purchased inventory worth $20,000, and made sales of $35,000. The company's year-end inventory balance was $4,000. Compute Kelly's gross profit for the year.

One of the advantages of personal selling over other types of marketing communications is:

a. cold calling is easier than direct mail advertising b. it almost always costs less than other marketing communication alternatives c. it has greater reach than advertising d. salespeople can customize their message for a specific buyer e. there aren't as many ethical considerations as long as the sales rep is productive

Under ________, buyers share sales and inventory information directly with key suppliers who monitor and replenish the buyer's stock automatically as needed

A) supplier selection B) proposal solicitation C) general need specification D) vendor-managed inventory E) procurement