Identify the type of business as service (S), retail merchandiser (RM), wholesale merchandiser (WM), or manufacturer (M) for each of the following.
1. The company reports no inventory on its balance sheet.
2. The company is a true "middleman," buying from a manufacturer and selling to other companies.
3. The company's inventory includes raw materials that will be processed into ready-touse goods.
4. The company sells goods to consumers.