Requirement 2. Determine the amount that would be reported in ending merchandise inventory on July 15 using the LIFO inventory 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 into the perpetual record, calculate the quantity and tot cost of merchandise Inventory purchased, sold, and on hand at the end of the period. (Enter all amounts to the nearest cent, sxxx. Enter the oldest inventory layers first) Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total More Info Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Jul 2 M.2 Purchased gallons @ $1.75 each 6 Purchased 1 gallons 32.20 each 8 Sold 3 gallions of milk to a customer 8 13 Purchased 2 galons @ $2.60 each 14 Sold 4 galions of mik to a customer Quantity 13 Print Done 14