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Drag Strip, a regional convenience store chain, maintains mik inventory by the gation. The first month's milk purchases and sales at its Denver, Colorado, location follow: (Click the icon to view the purchases and sales.) Read the resulrements 11 $21.95 14.75 $ 7.20 Requirement 3. Determine the amount that would be reported in ending merchandise inventory on May 15 using the weighted average 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, $XXX) Totals Purchases Unit Cost of Goods Sold Total Total Unit Inventory on Hand Unit Total Quantity Cost Cost Date Quantity Cost Cost Quantity Cost Cost May 2 6 8 13 14 Totals i More Info be be Ith latit ald Dn at May 2 Purchased 8 gallons @ $1.80 each May 6 Purchased 1 gallons @ $2.25 each May 8 Sold 3 gallons of milk to a customer May 13 Purchased 2 gallons @ $2.65 each May 14 Sold 4 gallons of milk to a customer TO Que C Print Done k Check