Zippy, a regional convenience store chain, maintains milk inventory by the gallon. The first month's milk purchases and sales at its Charlotte, North Carolina, 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 January 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, SX.XX. Enter the oldest inventory layers first.) Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Total Date Quantity Cost Cost Quantity Cost Cost Cost Cost Jan Enter any number in the edit fields and then continue to the next question. at would be reported in anding merchandise inventon on January 15 using the FIFO inventory More Info X der, calculatii y and total c entory layers Pnce all of the transacti at the end of the period otal Total Fost Qua Jan. 2 Purchased 10 gallons @ $1.75 each 6 Purchased 2 gallons @ $2.05 each 8 Sold 4 gallons of milk to a customer 13 Purchased 2 gallons @ $2.30 each 14 Sold 4 gallons of milk to a customer Cost Print Done mou * Requirements e qy des 7 1. Determine the amount that would be reported in ending merchandise inventory on January 15 using the FIFO inventory costing method. 2. Determine the amount that would be reported in ending merchandise inventory on January 15 using the LIFO inventory costing method. 3. Determine the amount that would be reported in ending merchandise inventory on January 15 using the weighted average inventory costing method. (Round all amounts to the nearest cent, $X.XX.) Print | Done