1. Determine the amount that would be reported in ending merchandise inventory on May 15 using LIFO. 2. Determine the amount that would be reported in ending merchandise inventory on May 15 using weighted average industry costing method.

and sales at its Charlotte, North Carolina, location follow: al st More Info May 2 Purchased 8 gallons @ $1 80 each 6 Purchased 1 gallons @ $2.25 each 8 Sold 3 gallons of milk to a customer 13 Purchased 2 gallons @ $2.65 each 14 Sold 4 gallons of milk to a customer Print Done the weighted average inventory costing method. Once all of the transactions have been entered into the perpetual record, calculate the quantity and ind Total Cost 1.55 Totals 11 Requirement 2. Determine the amount that would be reported in ending merchandise inventory on May 15 using the LIFO inv Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of th the nearest cent. $X.XX. Enter the oldest inventory layers first.) Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Cost Quantity Cost Cost Cost Quantity Cost Cost Quantity May 2 6 8 13 14 Totals Requirement 3. Determine the amount that would be reported in ending merchandise inventory on May 15 using the weighted-ave Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the trar the nearest cent SXXX Purchases Cost of Goods Sold Inventory on Hand Total Unit Unit Total Unit Total 14. Totals Requirement 3. Determine the amount that would be reported in ending merchandise inventory on May 15 using the weighted Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the the nearest cent, $X.XX) Purchases Cost of Goods Sold Inventory on Hand Unit Unit Unit Total Total Total Date Quantity Cost Cost Cost Quantity Cost Cost Cost Quantity May 2 6 8 13 14 Totals Enter any number in the edit fields and then continue to the next question Save for Later 1 1 w