Drag Strip, a regional convenience store chain, maintains milk inventory by the gallon. The first month's milk purchases and sales at its San Bernardino, California, location follow: (Click the icon to view the purchases and sales.) More info ding merchandise inventory on October 15 using ry on hand balances after each transaction. Once alculate the quantity and total cost of he period. (Enter all amounts to the nearest cent, Requirements 1. Determine the amount that would be reported in ending merchandise inventory on October 15 using the FIFO inventory costing method. 2. Determine the amount that would be reported in ending merchandise inventory on October 15 using the LIFO inventory costing method. 3. Determine the amount that would be recorted in ending merchandise inventory on October 15 using the weighted-average inventory costing method. Requirement 1. Determine the amount that would be reported in ending merchandise inventory on October 15 using the FIFO inventory costing method. Enter the transactions in chronological order, calculating new inventoryton 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, ov v Inin the nldaet invantorv lavers first.) Drag Strip, a regional convenience store chain, maintains milk inventory by the gallon. The first month's milk