1. If the company had purchased all its materials from the online marketplace, describe what inventory cost would be shown for all materials on hand based on the average transaction price.
2. Explain if the inventory cost value is higher or lower than the value of all materials if using their standard price.
3. If the company can freely choose the lower of the standard price or the average price in the online marketplace, explain what the lowest possible inventory cost of all materials on hand is.
4. Identify whether there is a particular marketplace vendor who always sells at a price lower than the standard price cost of all materials on hand.

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