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

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Question

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

  1. 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

  1. 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

  1. 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

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