Pass N Go, a regional convenience store chain, maintains milk inventory by the gallon. The first month's milk purchases and sales at its Schenectady, New York, location follow: 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 Unit Date Quantity Cost Total Cost Cost of Goods Sold Unit Total Inventory on Hand Unit Total More info Quantity Cost Cost Quantity Cost Cost Nov. 2 11 $ 2.00 $ 22.00 11 $ 2.00 $ 22.00 6 2 $ 2.65 $ 5.30 11 $ 2.00 $ 22.00 Nov. 2 2 $ 2.65 $ 5.30 Nov. 6 8 3 $ 2.00 $ 6.00 8 $ 2.00 $ 16.00 2 $ 2.65 $ 5.30 13 2 $ 2.70 $ 5.40 8 $ 2.00 $ 16.00 Nov. 8 Nov. 13 Nov. 14 Purchased 11 gallons @ $2.00 each Purchased 2 gallons @ $2.65 each Sold 3 gallons of milk to a customer Purchased 2 gallons @ $2.70 each Sold 3 gallons of milk to a customer 2 $ 2.65 $ 5.30 2 $ 2.70 $ 5.40 14 3 $ 2.00 $ 6.00 5 $ 2.00 $ 10.00 Print Done 2 $ 2.65 $ 5.30 2 $ 2.70 $ 5.40 $ 32.70 $ 12.00 $ 20.70 Totals 15 6 9 -