Use the Table for the Question(s)below

question 7

Multiple Choice

Use the table for the question(s) below.
-Consider an ETF that is made up of one share each of IBM,MRK,and C.The minimum ask price for this ETF in a normal market is closest to:

• A)$265.29.
• B)$265.44.
• C)$270.00.
• D)$270.15.

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Definitions:

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated as the sum of beginning inventory plus purchases minus cost of goods sold.

Periodic Inventory System

A method of inventory accounting where updates to inventory levels are made at specific periods, such as monthly or annually, rather than continuously.