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

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Perpetual: Assume that Marvel uses a perpetual FIFO inventory

system. What is the dollar value of its ending inventory?

a. $2,940 d. $2,852

b. $2,685 e. $2,705

c. $2,625

Perpetual: Assume that Marvel uses a perpetual LIFO inventory

system. What is the dollar value of its ending inventory?

a. $2,940 d. $2,852

b. $2,685 e. $2,705

c. $2,625

Perpetual and Periodic: Assume that Marvel uses a specific

identification inventory system. Its ending inventory

consists of 20 units from beginning inventory, 40 units from

the July 3 purchase, and 45 units from the July 15 purchase.

What is the dollar value of its ending inventory?

a. $2,940 d. $2,852

b. $2,685 e. $2,840

c. $2,625

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

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