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HELPPPP PLSSSS ASAP Express Lane C-Store, a regional convenience store chain, maintains milk inventory by the galion. The first month's milk purchases and sales at
HELPPPP PLSSSS ASAP
Express Lane C-Store, a regional convenience store chain, maintains milk inventory by the galion. The first month's milk purchases and sales at its Tompe, Arizona, location follo View the purchases and sales. Read the requirements. Requirement 1. Determine the amount that would be reported in ending merchandise inventory an January 15 using the FIFO inventory costing method. Enter the transactions in chronological order, calculating new inventory on hand balances after each fransaction. Once all of the fransactions have been entered into the perpetua the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. (Enter all amounts fo Purchases and sales Requirement 2. Detecmine the amount that would be reported in ending metchandise inventory on January 15 using the LIFO inventory costing method: Enter the transactions in chronological cedec, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quartity and total cost of merchendise inventory purchased, sold, and on hand at the end of the period. (Entor alf amounts to the nearest cect, $XX. Enter the oldest inventory inyers fint) Requirement 3. Determine the amount that would be reperted in ending merchandise invintory on January 15 using the weighted-average imventary exsing method the quantify and total cost of merchandise inventog purchased, sold, and on hand at the ond of the period. (Enter ail amounts lo the nearest cent, 50C ) Purchases and sales Step by Step Solution
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