only question number 12

12. Enter the letter for each term in the blank space beside the definition that it most closely matches. (2) A. Sales discount E. FOB shipping point H. Purchase discount B. Credit period F. Gross profit I. Cash discount C. Discount period G. Merchandise inventory J. Trade discount D. FOB destination Use the following information from Marvel Company for the month of July to answer questions 13 through 16. July 1 Beginning inventory............75 units @ $25 each .348 units @ $27 each .300 units July 3 Purchase.. July 8 Sale..... July 15 Purchase... July 23 Sale...... 257 units @ $28 each .275 units 17 IPPO wn 12. Enter the letter for each term in the blank space beside the definition that it most closely matches. (2') A. Sales discount E. FOB shipping point H. Purchase discount B. Credit period F. Gross profit I. Cash discount C. Discount period G. Merchandise inventory J. Trade discount D. FOB destination 75 units @ $25 each Use the following information from Marvel Company for the month of July to answer questions 13 through 16. July 1 Beginning inventory.. July 3 Purchase.. July 8 Sale.... July 15 Purchase. 348 units @ $27 each 300 units ..257 units @ $28 each July 23 Sale.... 275 units 13. Perpetual: Assume that Marvel uses a perpetual FIFO inventory system. What is the dollar value of its ending inventory? (2) a. $2,940 d. $2,852 b. $2,685 e. $2,705 c. $2,625 14. Perpetual: Assume that Marvel uses a perpetual LIFO inventory system. What is the dollar value of its ending inventory? (2) a. $2,940 d. $2.852 b. $2,685 e. $2,705 c. $2,625 15. Perpetual: Assume that Marvel uses a perpetual specific identification inventory system. Its ending inventory consists of20 units from beginning inventory, 40 units from the July 3 purchase, and 45 units from the July 15 purchase. What is the dol-lar value of its ending inventory? (2') a $2.940 d. $2.852