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Correct this: The Shirt Shop had the following transactions for T-shirts for 2016, its first year of operations: = $3,200 400 units @ $8 Jan.
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The Shirt Shop had the following transactions for T-shirts for 2016, its first year of operations: = $3,200 400 units @ $8 Jan. 20 Purchased 200 units @ $10= Apr. 21 Purchased 2,000 July 25 Sept. 19 280 units@ $13 = Purchased 3,640 90 units$20 Purchased 1,800 During the year, The Shirt Shop sold 810 T-shirts for $20 each value: 10.00 points 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.) Ending Inventory FIFO 4,530 LIFO 1,280 Weighted Average $ 1,755Step by Step Solution
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