5.19 A firm has the following transactions with its product R. 1 January 20X1 1 February 20X1 11 February 20xi Buys 12 units at $250 per unit April 20X1 1 August 20X1 1 December 20X1 Sells 12 units at $400 per unit Opening inventory: nil Buys 10 units at $300 per unit Sells 8 units at $400 per unit Buys 6 units at $200 per unit The firm uses periodic weighted average cost (AVCO) to value its inventory. What is the inventory value at the end of the year? (Give your answer to 2 decimal places

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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.