Drag Strip, a regional convenionce store chain, maintains milk inventory by the gallon. The first month's milk purchases and sales at its Charlotte, North Carolina, Iocation follow: (Click the icon to view the purchases and sales.) Read the requirements, Requirement 1. Determine the amount that would be reported in ending merchandise inventory on January 15 using the FIFO irventory costing method, Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entored i the perpotual record, caiculate the quantity and total cost of merchandise irrventory purchased, sold, and on hand at the end of the period. (Enter all amounts to ti nearest cent, $X. Enter the oidest inventory layers first.) location follow: (Click the icon to view the purchases and sales.) Read the requirements. Drag Strip, a regional convenience store chain, maintains milk inventory by the gallon. The first month's milk purchases and sales a location follow: (Click the icon to view the purchases and sales.) Road the requirements. More info more help