Multisource Least-Squares Migration (LSM) of phase-encoded supergathers has shown great promise in reducing the computational cost of conventional migration. But for the marine acquisition geometry this approach faces the challenge of erroneous misfit due to the mismatch between the limited number of live traces/shot recorded in the field and the pervasive number of traces generated by the finite-difference modeling method. To tackle this mismatch problem, I present a frequency selection strategy with LSM of supergathers. The key idea is, at each LSM iteration, to assign a unique frequency band to each shot gather, so that the spectral overlap among those shots—and therefore their crosstallk—is zero. Consequently, each receiver can unambiguously identify and then discount the superfluous sources—those that are not associated with the receiver in marine acquisition. To compare with standard migration, I apply the proposed method to 2D SEG/EAGE salt model and obtain better resolved images computed at about 1/8 the cost; results for 3D SEG/EAGE salt model, with Ocean Bottom Seismometer (OBS) survey, show a speedup of 40×. This strategy is next extended to multisource Full Waveform Inversion (FWI) of supergathers for marine streamer data, with the same advantages of computational efficiency and storage savings. In the Finite-Difference Time-Domain (FDTD) method, to mitigate spectral leakage due to delayed onsets of sine waves detected at receivers, I double the simulation time and retain only the second half of the simulated records. To compare with standard FWI, I apply the proposed method to 2D velocity model of SEG/EAGE salt and to Gulf Of Mexico (GOM) field data, and obtain a speedup of about 4× and 8×. Formulas are then derived for the resolution limits of various constituent wavepaths pertaining to FWI: diving waves, primary reflections, diffractions, and multiple reflections. They suggest that inverting multiples can provide some low and intermediate-wavenumber components of the velocity model not available in the primaries. In addition, diffractions can provide twice or better the resolution as specular reflections for comparable depths of the reflector and diffractor. The width of the diffraction-transmission wavepath is on the order of λ at the diffractor location for the diffraction-transmission wavepath.