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High Road, a regional convenience store chain, maintains milk inventory by the gallon. The first...

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Accounting

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High Road, 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 October 15 using the FIFO inventory costing method. period. (Enter all amounts to the nearest cent, $xxx. Enter the oldest inventory layers first.)
More info
\table[[Oct.2,Purchased 10 gallons @ $1.75 each],[Oct.6,Purchased 2 gallons @ $2.05 each],[Oct.8,Sold 4 gallons of milk to a customer],[Oct.13,Purchased 2 gallons @ $2.30 each],[Oct.14,Sold 4 gallons of milk to a customer]]
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