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Help Save Required information [The following information applies to the questions displayed below) The Shirt Shop had the following transactions for T-shirts for Year 1,
Help Save 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 January 20 Purchased 400 units @ $ 8 $3,200 April 21 Purchased 200 units @ $10 = 2,000 July 25 Purchased 280 units @ $13 3,640 September 19 Purchased 98 units @ $15 1,350 During the year. The Shirt Shop sold 810 T-shirts for $20 each. b. Record the above transactions in general journal form and post to T-accounts assuming (0) FIFO (2) LIFO, and (3) weighted-average methods. Use a separate set of journal entries and T-accounts for each method. Assume all transactions are cash transactions. Required B Required B GJ Required B G Required B G Required By Required BT Required BT FIFO LIFO WA Acc FIFO Acc UFO 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.) View transaction list Journal entry worksheet Record entry for cost of goods sold. Note: Enter debits before credits Dobit General Journal Date Credit Year 1 View general Journal Clear entry Record entry
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