ding merchandise inventory on January 15 using the FIFO inventory costing method. ory nte Requirements X ptual re od nit st 1. Determine the amount that would be reported in ending merchandise inventory on January 15 using the FIFO inventory costing method. 2. Determine the amount that would be reported in ending merchandise inventory on January 15 using the LIFO inventory costing method. 3. Determine the amount that would be reported in ending merchandise inventory on January 15 using the weighted average inventory costing method. (Round all amounts to the nearest cent, $X.XX.) Print Done Drag Strip, a regional convenience store chain, maintains mik inventory by the gation. The first month's milk purchases and sales at ts Fushing, Michigan, location follow (Click the icon to view the purchases and sales Read the diraman Requirement 1. Determine the amount that would be reported in ending merchandise inventory on January 15 using the FIFO inventory costing method Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered to the perpetual record. calcul Inventory purchased, sold, and on hand at the end of the period. (Enterall amounts to the nearest cant sXXX. Enter the oldest inventory layers first) Purchases Unit Cost Total Cost Cost of Goods Sold Unit Total Quantity Cost Cost Inventory on Hand Unit Total Quantity Cost Cost Date Quantity Jan. 2 13 14 Totals e Text Pages Get More Help Help Me Solve This Manuary 15 using the FIFO inventory costing method. transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of merchandise ent, $X.XX. Enter the oldest inventory layers first.) tory on Hand Unit Total Cost Cost