At the beginning of 2021, Quentin and Kopps (Q&K) adopted the dollar-value LIFO (DVL) inventory method. On that date the value of its one inventory pool was $85,000. The company uses an internally generated cost index to convert ending inventory to base year. Required: Determine the missing amounts in the inventory data for 2021 through 2024. (Round cost index to 2 decimal places.) Ending Ending Year Ended Inventory at Inventory at Inventory at December 31 Year-End costs Base-Year Costs Cost Index DVL cost 2021 $ 104,860 $ 98,000 1.07 2022 $ 148,480 1.16 2023 $ 166,000 $ 132,800 2024 1.30 $ 143,545

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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.