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E6-15 (similar to) * E Question Help Speedy, a regional convenience store chain, maintains milk inventory by the gallon. The first month's milk purchases and sales at its Denver, Colorado, 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 May 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, $X0Xx. Enter the oldest inventory layers first) Cost of Goods Sold Inventory on Hand Total Total Total Unit Unit Unit Date Cost Cost Cost Cost Cost Cost May 2 Enter any number in the edit fields and then click Check Answer Clear All Check Answer 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, SX.Xx) Print Done More Info May 2 Purchased 12 gallons$1.75 each 8 Purchased 2 gallons$2.10 each 8 Sold 4 gallons of milk to a customer 13 Purchased 5 gallons @$2.25 each 14 Sold 6 gallons of milk to a customer Print Done