Warren Manufacturing began business on January 1. During its first year of operation, Warren worked on five industrial jobs and reported the following information at year - end: Job 1 Job 2 Job 3 Job 4 Job 5 $1,000 12,000 $7,500 20,000 $4,800 13,800 Direct Materials $3,700 $1,500 Direct Labor 12,700 800 Allocated Mfg. Overhead 1,500 6,000 2,400 7,100 200 Not Oct 15 Not sold Job completed: Jun 30 Sep 1 Sep 12 $39,000 Nov 1 completed Not sold Job sold: Jul 10 N/A Revenues: $25,000 N/A N/A N/A What was the balance in Finished Goods Inventory at year - end? O A. $44,500 O B. $35,000 OC. $21,000 O D. $23,500

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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.