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! Required information [The following information applies to the questions displayed below.) The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: Jan. 20 Apr. 21 July 25 Sept. 19 Purchased Purchased Purchased Purchased 570 units @ $ 10 = $5,700 370 units @ $ 12 = 4,440 450 units @ $ 15 = 6,750 260 units @ $ 17 = 4,420 During the year, The Shirt Shop sold 1,320 T-shirts for $26 each. b. Record the above transactions in general Journal form and post to T-accounts using (1) FIFO (2) LIFO, and (3) weighted average. Use a separate set of journal entries and T-accpunts for each method. Assume all transactions are cash transactions Complete this question by entering your answers in the tabs below. Required B Required G) Required B G Required BG Required By Required BT Required BT FIFO LIFO WA Acc FIFO Acc LIFO Acc WA Record the above transactions in general Journal form using FIFO method. Assume all transactions are cash transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) es View transaction list Journal entry worksheet Record sale of inventory for cash. Note: Enter debits before credits. General Journal Debit Credit Date Year 1 Record entry Clear entry View general journal Journal entry worksheet 1 2 Record entry for cost of goods sold. Note: Enter debits before credits. Date General Journal Debit Credit Year 1 Record entry Clear entry View general journal Journal entry worksheet Record sale of inventory for cash. Note: Enter debits before credits. General Journal Debit Credit Date Year 1 Record entry Clear entry View general journal Journal entry worksheet Required B Required B GJ Required B G Required B G Required BT Required BT Required BT FIFO LIFO WA Acc FIFO Acc LIFO Acc WA Post to T-accounts using LIFO method. Assume all transactions are cash transactions. Cash Merchandise Inventory Beg. Bal Beg. Bal End. Bal Sales Revenue Cost of Goods Sold Beg. Bal Beg. Bal End. Bal End. Bal

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