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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. Flushing. Michigan, bocation follow: (1) (Click the icon to view the purchases and sales.) Read the recairements. Requirement 1. Determine the amount that would be reported in ending merchandise inventory on October 15 using the FIFO imventory 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 linto the perpetual record, calculate the quantly 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.X. Enter the oldest inventory layers first.) More info

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