Requirement 2. Determine the amount that would be reported in ending merchandise inventory on January 15 using the LIFO inventory costing method.

Requirement 2. Determine the amount at would be reported in ording merchandise on July 15th UFO ting the 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 total cost of merchandise Inventory purchased, sold, and on hand at the end of the period. Enteral amounts to renere contre des motory layers first Purchases Cost of Goods Sold Inventory on and Unte Total Unit Total Un Total More info Date Quantity Cost Coal Quantity Cost Cost Quantity Coat Cost Jan 115 2005 22.00 115 200 22.00 252655 5.30 Jan. 2 Pred 11 or $2.00 each 115 200 22.00 25 Jan Purchased 2 galon 2.66 cach 2055 25 2055 Jan. Soldalon 530 BS 200 as 2.00 3 Jan 13 Purchased to 12.70 cach 15 25 2.70 5 6:40 ss Jan 14 Sold 3 galo mi to 2.00 215 2015 5.60 14 25 2.YOS 540 95 2.00 S 215 200 Print Done Total 15 32.70 10