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End of Chapter: Merchandise Inventory E-E:6-15 Comparing inventory methods (Learning Objective 2) Super Mart, a...

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End of Chapter: Merchandise Inventory E-E:6-15 Comparing inventory methods (Learning Objective 2) 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: Nov. 2 Purchased 11 gallons @ $2.15 each 6 Purchased 2 gallons @ $2.80 each 8 Sold 6 gallons of milk to a customer 13 Purchased 3 gallons @ $2.85 each 14 Sold 4 gallons of milk to a customer Requirements 1. Determine the amount that would be reported in ending merchandise inventory on November 15 using the FIFO inventory costing method. 1. Ending Merch. Inv. $16.30 CH
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E-F.6-15. Comparing inventory methods (A-rarning Objectinv 2) Supor Mart, a regional convenienoe store chain, maintains malk inveatory by the gallon. The firnt monthis milk purchases and sales at its Freeport Florida, location follow: Requirements 1. Determine the amount that would be reported in ending merchandise inventory on November 15 using the HFO inventory costing method

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