Use the following information from Marvel for the month of July to answer questions 1...
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Accounting
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
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| 7/3
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| 7/8
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| 7/15
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| 7/23
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- 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
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| 7/3
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| 7/8
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| 7/15
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| 7/23
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- 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
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| 7/3
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| 7/8
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| 7/15
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| 7/23
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