Item 5Item 5 Time Remaining 56 minutes 29 seconds00:56:29 Data related to the inventories of Kimzey Medical Supply are presented below: Surgical Surgical Rehab Rehab Equipment Supplies Equipment Supplies Selling price $ 305 $ 165 $ 385 $ 210 Cost 215 135 295 207 Replacement cost 285 125 280 203 Costs to sell 48 14 34 28 Normal gross profit ratio 30 % 30 % 30 % 20 % In applying the lower of cost or market rule, the inventory of surgical supplies would be valued at:

Which of the following statements is not correct? the stock of publicly owned companies must generally be registered with and reported to a regulatory agency such as the sec. when stock in a closely held corporation is offered to the public for the first time, the transaction is called "going public, or an ipo," and the market for such stock is called the new issue or ipo market. "going public" establishes a firm's true intrinsic value and ensures that a liquid market will always exist for the firm's shares. if you wanted to know what rate of return stocks have provided in the past, you could examine data on the dow jones industrial index, the s& p 500 index, or the nasdaq index.