Using the Information Below,at What Price Per Share Can You

question 87

Multiple Choice

Using the information below,at what price per share can you sell your mutual fund shares?

• A) $38.42
• B) $38.49
• C) $38.35
• D) $40.34
• E) none of the above

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Definitions:

Perpetual

An inventory system where updates are made continuously to the inventory records, reflecting each sale or purchase.

Periodic Inventory System

An inventory system in which the inventory count and the cost of goods sold calculation are performed at set intervals, typically at the end of an accounting period.

Periodic Inventory System

An inventory accounting system where updates are made on a periodic basis, rather than continuously, often used for calculating cost of goods sold at the end of an accounting period.

Sales Returns & Allowances

Reductions in sales revenue for products returned by customers or allowances given for damaged goods.