5. The following information is available for October for Barton Company. Beginning inventory € 50,000 Net purchases 150,000 Net sales 300,000 Percentage markup on cost 66.67% A fire destroyed Barton's October 31 inventory, leaving undamaged inventory with a cost of €3,000. Using the gross profit method, the estimated ending inventory destroyed by fire is: a. €17,000. b. €77,000. c. €80,000. d. €100,000.

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.