Question: Use the following information from Marvel Company for the month of July to answer questions 13 through 16. July 1 Beginning inventory......... 75 units @

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 Purchase. .348 units @ $27 each .300 units July 3 July 8 Sale.. July 15 Purchase. July 23 Sale.. 257 units @ $28 each. 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 b. $2,685 e. $2,705 c. $2,625 16. Periodic: Assume that Marvel uses a periodic 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
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
