You received partial credit in the previous attempt Check my work ! Required information Exercise...
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You received partial credit in the previous attempt Check my work ! Required information Exercise 5-5A Effect of inventory cost flow on ending inventory balance and gross margin LO 5-1 [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 400 units@s 8 = $3,200 Purchased 200 units 510 - 2,000 Purchased 280 units @ $13 = 3,640 Purchased 90 units 5151,350 During the year, The Shirt Shop sold 810 T-shirts for $20 each Exercise 5-5A Part a 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 per unit to 2 decimal places and final answers to the nearest whole dollar amount.) Endina in 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 per unit to 2 decimal places and final answers to the nearest whole dollar amount.) FIFO LIFO Weighted Average Ending Inventory $ 2.260 $ 1,280
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