Use the following information from Marvel for the month of July to answer questions 1 through...

Use the following information from Marvel for the month of July to answer questions 1 through 4:

July 1	Beg. Inventory	75 Units @ $25 each
July 3	Purchase	348 Units @ $27 each
July 8	Sale	300 Units
July 15	Purchase	257 Units @ $28 each
July 23	Sale	275 Units

Assume that Marvel uses a perpetual FIFO inventory system. What is the dollar value of its ending inventory?

Date	Beg. Inv.	Purchase	Sale	End. Inv.
7/1
7/3
7/8
7/15
7/23

Assume that Marvel uses a perpetual LIFO inventory system. What is the dollar value of its ending inventory?

Date	Beg. Inv.	Purchase	Sale	End. Inv.
7/1
7/3
7/8
7/15
7/23

Assume that Marvel uses a perpetual weighted average inventory system. What is the dollar value of its ending inventory?

Date	Beg. Inv.	Purchase	Sale	End. Inv.
7/1
7/3
7/8
7/15
7/23

Expert Solution

ekkarill92 answered 1 year ago

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