Charley's, a local dairy store, maintains milk inventory by the gallon. The first month's milk purchases and sales at its Chazy, NY, location follow: November 2 Purchased 7 gallons at $2.20 each. November 6 Purchased 6 gallons at $2.40 each. November 8 Sold 5 gallons of milk to customers: November 13 Purchased 5 gallons at $2.70 each. November 14 Sold 6 gallons of milk to customers. Determine the amount that would be reported in ending merchandise inventory and amount of Cost of Goods sold on November 15 using the FIFO inventory costing method