Use the following information from Marvel Company for themonth of July. July 1 Beginning inventory 75 units @ $25 eachJuly 3 Purchase 348 units @ $27 eachJuly 8 Sale 300 unitsJuly 15 Purchase 257 units @ $28 eachJuly 23 Sale 275 units Assume that Marvel uses a perpetual FIFO inventory system. What is the dollar value of its ending inventory? a. $2,940 c. $2,625 e. $2,705 b. $2,685 d. $2,852

Question

Use the following information from Marvel Company for the
month of July. July 1 Beginning 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?
a. $2,940 c. $2,625 e. $2,705
b. $2,685 d. $2,852

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