Express Lane, a regional convenience store chain, maintains milk inventory by the gallon. The first month's milk purchases and sales at its Denver, Colorado, location follow:

i$.($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 July $15$ using the FIFO inventory costing method.

end of the period. $($Enter all amounts to the nearest cent, $$x.xx.$ Enter the oldest inventory layers first.$)$