Super Mart, a regional convenience store chain, maintains milk inventory by the gallon. The first month's milk purchases and sales at its Freeport, Florida, 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 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 Cost of Goods Sold Inventory on Hand convenience store chain, maintains milk inventory by the gallon. The first month's milk purchases and tion follow view the purchases and sales.) ts. r 15 using the FIF termine the amount More Info on. Once all of the bed, sold, and on t Ons in chronological che perpetual record mounts to the neares Hand Purchases Nov. 2 Purchased 8 gallons @ $1.90 each Nov. 6 Purchased 2 gallons @ 22.00 each Nov. 8 Sold 3 gallons of milk to a customer Nov. 13 Purchased 1 galions @ $3.20 each Nov. 14 Sold 4 gallons of milk to a customer Total Unit Cost Cost antity 8 1.90 2 2 Print Done 1 3.20 14 Me Solve This DemoDocs Example Get More Help Clear All Ched 14 dtv a Q ce store chain, maintains milk inventory by the gallon. The first month's milk purchas rchases and sales.) - Fequirements 1. Determine the amount that would be reported in ending merchandise inventory on November 15 using the FIFO inventory costing method. 2. Determine the amount that would be reported in ending merchandise inventory on November 15 using the LIFO inventory costing method. 3. Determine the amount that would be reported in ending merchandise inventory on November 15 using the weighted average inventory costing method. (Round all amounts to the nearest cent, $X.XX.) Print Done 14 s DemoDocs Example Get More Help Clear All 328 on 3 14 av s