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Jul. 2 Purchased 8 gallons @ $1.90 each Jul.6 Purchased2 gallons @, $2.00 each Jul. 8 Sold 3 gallons of milk to a customer Jul.13

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Jul. 2 Purchased 8 gallons @ \$1.90 each Jul.6 Purchased2 gallons @, \$2.00 each Jul. 8 Sold 3 gallons of milk to a customer Jul.13 Purchased1 gallons @ \$3.20 each Jul. 14 Sold 4 gallons of milk to a customer Requirements 1. Determine the amount that would be reported in ending merchandise inventory on July 15 using the FIFO inventory costing method. 2. Determine the amount that would be reported in ending merchandise inventory on July 15 using the LIFO inventory costing method. 3. Determine the amount that would be reported in ending merchandise inventory on July 15 using the weighted-average inventory costing method. (Round all amounts to the nearest cent, SXXX.)

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