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Learning objective 2 1 Ending Morch Inv, $10.GO 6 Comparing inventory methods Express Lane, a...

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Learning objective 2 1 Ending Morch Inv, $10.GO 6 Comparing inventory methods Express Lane, a regional convenience store chain, maintains milk inventory by the pal- lon. The first month's milk purchases and sales at its Freeport, Florida, location follow Nov, 2 Purchased a gallons @ $2.00 each Purchased 2 gallons o 52.10 each B Sold 3 gallons of milk to a customer 13 Purchased 2 gallons o 12.20 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 conting 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 cene

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