Root Trailers' job cost records yielded the following information: E (Click the icon to view the job cost information.) Use the dates above to identify the status of each job. Compute the following balances for Root: a. Work-in-Process Inventory at July 31 b. Finished Goods Inventory at July 31 c. Cost of Goods Sold for July Begin by identifying the status of each job. Data Table Job Date Total Cost of Job Status of Job at No. Started Finished Sold at July 31 July 31 June 21 July 16 July 17 3,400 Date 1 Total Cost of Job June 29 July 21 July 26 13,700 Job No. Started Finished Sold at July 31 3 July 3 August 11 August 13 6,000 Job No. 1 June 21 July 16 July 17 $ 3,400 4 July 7 July 29 August 1 4,400 Job No. 2 June 29 July 21 July 26 13,700 Job No. 3 July 3 August 11 August 13 6,000 Job No. 4 July 7 July 29 August 1 4,400

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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.