inside track a regional convenient store chain maintains milk inventory by the gallon the first months milk purchases and sales at Columbus Ohio location follow

November 2 purchase 10 gallons at $1.75 each

November 6 purchased 2 gallons at $2.05 each

November 8 sold 4 gallons of milk to a customer

November 13 purchase 2 gallons at $2.30 each November 14 sold 4 gallons of milk to a customer

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 the transactions have been entered into the perpetual record calculate the quality and total cost of merchandise inventory purchase sold and on hand at the end of the period