Required information The following information applies to the questions displayed below The Shirt Shop had...
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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 Purchased540 units 8 $ 7$3,780 Apr. 21 Purchased 340 units e$ 9 3,060 July 25 Purchased 420 units $12 5,040 Sept. 19 Purchased 230 units & $14- 3,220 During the year, The Shirt Shop sold 1,230 T-shirts for $23 each. Required a. Compute the amount of ending inventory The Shirt Shop would report on the balance sheet, assuming the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. (Round cost pe to 2 decimal places and final answers to the nearest whole dollar amount.) Ending Inventor FIFO LIFO Weighted average
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