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During the year, The Shirt Shop sold 1,260 T-shirts for $26 each. Exercise 5-5A (Algo) Part b b. Record the above transactions in general journal
During the year, The Shirt Shop sold 1,260 T-shirts for $26 each. Exercise 5-5A (Algo) Part b b. Record the above transactions in general journal form and post to T-accounts assuming (1) FIFO, (2) LIFO, and (3) weighted-averag methods. Use a separate set of journal entries and T-accounts for each method. Assume all transactions are cash transactions. Complete this question by entering your answers in the tabs below. Record the above transactions in general journal form. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the entry for purchase of inventory for cash on April 21. Note: Enter debits before credits
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