Solve the Problem A) $\$ 38,680.40$ B) $\$ 38,710.35$ C) $\$ 39,804.35$ D) $\$ 38,674.95$

question 214

Multiple Choice

Solve the problem.
-The following information on Company X appears in a stock table. Find the cost to purchase 1180 shares of Company X at the day's closing price. Assume that the transaction is automated and includes typical discount broker's commissions as follows: $\begin{array}{l|l}\text { Number of Shares } & \text { Commission } \\\hline \text { Up to } 1000 & \$ 29.95 \\\text { More than } 1000 & 3 \text { cents per share }\end{array}$

• A) \(\$ 38,680.40\)
• B) \(\$ 38,710.35\)
• C) \(\$ 39,804.35\)
• D) \(\$ 38,674.95\)

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Definitions:

Production

The act of producing products and offerings.

Finished Goods

Products that have completed the manufacturing process but have not yet been sold or distributed to customers.

Inventory

The goods and materials a business holds for the ultimate goal of resale or processing.

February

Known as the second month in the Gregorian calendar, it has 28 days in standard years and 29 days in years classified as leap years.