Western Michigan C-Store, a regional convenience store chain, maintains milk inventory by the gallon. The first month’s milk purchases and sales at its Kalamazoo, Michigan, location follow:

Requirements 

1. Determine the amount that would be reported in ending merchandise inventory on November 15 using the FIFO inventory costing 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 cent.

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Nov. 2 Purchased 8 gallons @ $2.00 each 6 Purchased 2 gallons @ $2.10 each 8 Sold 3 gallons of milk to a customer 13 Purchased 2 gallons @ $2.20 each 14 Sold 4 gallons of milk to a customer