Determine the amount that would be reported in ending merchandise inventory on January 15 using the LIFO 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 into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. (Enter all amounts to the nearest cent, $X.XX. Enter the oldest inventory layers first.)

on the bookmarks bar. Import bookmarks now- ACCT 2401.1009 Principles of Accounting l Homework: Chapter 6 Homework Score: 3.91 of 10 pts 4 3 of 9 (2 complete) v E6-15 (similar to) Super Mart, a regional convenience store chain, maintains milk inventory by the gallon The first month's milk purchases and sales at its Flushing Michigan location follow (Click the icon to view the purchases and sales) Read the requiremenil. Purchases Cost of Goods sold Inventory on Hand Unit Total Unit Total T Unit Total More info Date Rouantity cost cost Quantity cost cost Quantity cost Jan 2 Purchased 11 gallons S2 15 each 280 6 Purchased 2 gallons e $2 80 each 8 Sold 6 galons of mik to a customer 13 Purchased 3 gallons $285 each 14 Sold 4 gallons of milk to a customer 14 Enter any number in the edit fields and then click check Answer Clear All