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Inside Track, a regional convenience store chain, maintains milk inventory by the gallon. The first month's milk purchases and sales at its Tempe, Arizona, location
Inside Track, a regional convenience store chain, maintains milk inventory by the gallon. The first month's milk purchases and sales at its Tempe, Arizona, location 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 November 15 using the FIFO 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, $X.XX. Enter the oldest inventory layers first.) Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Nov. 2 6 8 131 Enter any number in the edit fields and then continue to the next question. ? Inside Track, a regional convenience store chain, maintains milk inventory by the gallon. The first month's milk purchases and sales at its Tempe, Arizona, location follow: (Click the icon to view the purchases and sales.) Read the requirements. Nov. 21 6 8 13| 14 Totals Requirement 2. Determine the amount that would be reported in ending merchandise inventory on November 15 using the LIFO 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 Enter any number in the edit fields and then continue to the next question. ? Inside Track, a regional convenience store chain, maintains milk inventory by the gallon. The first month's milk purchases and sales at its Tempe, Arizona, location follow: (Click the icon to view the purchases and sales.) Read the requirements. purchaseu, Sulu, anu Ianu ai me end vi ne penou. (Lther all amounTLS Lo me nearest Cem, DANA. Liher me viuestivemory layers III St.) Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Nov. 2 61 8 1 131 14 Totals Enter any number in the edit fields and then continue to the next question. Inside Track, a regional convenience store chain, maintains milk inventory by the gallon. The first month's milk purchases and sales at its Tempe, Arizona, location follow: (Click the icon to view the purchases and sales.) Read the requirements. Totals More Info - Requirement 3. Determine the amount that would be reported in ending merchandise inventory on N method into the perpetual record, calculate the quantity and total cost of merchandise inventory Enter the transactions in chronological order, calculating new inventory on hand balances after eacht purchased, sold, and on hand at the end of the period. (Enter all amounts to the nearest cent, $X.XX. Purchases Cost of Goods Sold Invent Unit Total Unit Total Nov. 2 Purchased 11 gallons @ $2.15 each Nov. 6 Purchased 2 gallons @ $2.80 each Nov. 8 Sold 6 gallons of milk to a customer Nov. 13 Purchased 3 gallons @ $2.85 each Nov. 14 Sold 4 gallons of milk to a customer Date Quantity Cost Cost Quantity Cost Cost Quantity Nov. 2 61 8 Print Done 13| 141 Totals Inside Track, a regional convenience store chain, maintains milk inventory by the gallon. The first month's milk purchases and sales at its Tempe, Arizona, location follow: (Click the icon to view the purchases and sales.) Read the requirements. Totals Requirement 3. Determine the amount that would be reported in ending merchandise inventory on November 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, $X.XX.) Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Nov. 2 6 8 13| 14) Totals Enter any number in the edit fields and then continue to the next
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