# 1.Use the following information from Marvel Company for the month of July to answ...continues

###### Question:

1.Use the following information from Marvel Company for the month of July to answer questions 1 through 3
July 1 Beginning inventory 50 units @$15 each July 3 Purchase 80 units @$20 each
July 8 Sale 70 units
July 15 Purchase 100 units @$30 each July 23 Sale 50 units (1). Assume that Marvel uses a perpetual FIFO inventory system. What is the dollar value of its ending inventory? (2). Assume that Marvel uses a perpetual LIFO inventory system. What is the dollar value of its ending inventory? (3). Assume that Marvel uses a perpetual specific identification inventory system. Its ending inventory consists of 20 units from beginning inventory, 40 units fromthe July 3 purchase, and 50 units from the July 15 purchase. What is the dollar value of its ending inventory? Please explain. 2. Which statement is correct? A) Tax credits reduce tax liability on a dollar-for-dollar basis. B) Tax deductions reduce tax liability on a dollar-for-dollar basis. C) The benefit of a tax credit depends on the taxpayer's marginal tax rate. D) Tax deductions are more valuable for high-income taxpayers than for low-income taxpayers. 3.Max and Alexandra are married and incur$5,500 of qualifying expenses to care for their two
children, ages 2 and 5. Max's earned income is $35,000 and Alexandra's earnings from a part-time job are$5,000. What is the amount of the qualifying expenses for purposes of computing the child
4. A company has $100,000 of U.S. source taxable income and$300,000 of foreign source taxable
income from countries X and Y for a total worldwide taxable income of $400,000. Countries X and Y levy a total of$60,000 in foreign taxes upon the foreign source taxable income. U.S. taxes before
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##### A triangle has corners at points A, B, and C. Side AB has a length of 16 . The distance between the intersection of point A's angle bisector with side BC and point B is 12 . If side AC has a length of 8 , what is the length of side BC?
A triangle has corners at points A, B, and C. Side AB has a length of 16 . The distance between the intersection of point A's angle bisector with side BC and point B is 12 . If side AC has a length of 8 , what is the length of side BC?...