Problemyou would like to buy shares of ralph lauren rl the, Ask an Expert

Accounting

Problem:

You would like to buy shares of Ralph Lauren (RL). The current bid and ask quotes are $85.13 and $85.20, respectively. You place a market buy-order for 500 shares that executes at these quoted prices. How much money did it cost to buy these shares?

$42,600.00
$35.00
$42,565.00
$85,165.00

Note: Please show the work not just the answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91172038

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