Use the information below to answer the following question. Opal Ltd uses a perpetual control system for its inventory. It had the following data for a recent period:
What was the balance of Opal Ltd's accounts payable at the end of the period?
Definitions:
Identical Service
A service that is exactly the same in every feature and aspect when compared to another service.
Efficient Output
The level of production at which a company or economy can produce goods at the lowest possible cost per unit, maximizing the allocation of resources.
Perfect Competitor
A hypothetical firm in a perfectly competitive market that cannot influence the market price of its product and takes the market price as given.
Marginal Cost
A concept in economics that refers to the change in the total cost when an additional unit of a product is produced.
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