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Save Homework: Chapter 6 part B homework Score: 0.27 of 1 pt 1 of 9 (8 complete) %E6-15 (similar to) HW Score: 76.27%, 6.86 of 9 pts Question Help Express Lane, a regional convenience store chain, maintains milk inventory by the galon. The first month's milk purchases and sales at its Old Swybrook Connecticut, location follow Click the icon to view the purchases and sales Read the requirements Requirement 1. Dermine the amount that would be reported in onding merchandise inventory on May 15 the inventory costing method Enter the transactions in chronological order i ng new inventory on hand balances whereach ansaction. 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. Enteral amounts to the nearestent SXXX. Enter the oldest inventory layers first.) Purchases Cost of Goods Sold inventory on Hand Total Unit Cost Total Cost Unit C ost Total Cost Date Quantity Quantity Quantity Cost Cast Enter any number in the edit fields and then click Check Answer. 2 parts Clear Check Answer 2 remaining More Info - X May 2 Purchased 8 gallons @ $1.90 each 6 Purchased 2 gallons @ $2.00 each 8 Sold 3 gallons of milk to a customer 13 Purchased 1 gallons @ $3.20 each 14 Sold 4 gallons of milk to a customer Print Print Done Done] i Requirements 1. Determine the amount that would be reported in ending merchandise inventory on May 15 using the FIFO inventory costing method. 2. Determine the amount that would be reported in ending merchandise inventory on May 15 using the LIFO inventory costing method. 3. Determine the amount that would be reported in ending merchandise inventory on May 15 using the weighted average inventory costing method. (Round all amounts to the nearest cent, $X.XX.) Print Done