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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 January 20 Purchased 580 units @ $ 9 - 55,220 April 21 Purchased 380 units @ $11 - 4,180 July 25 Purchased 460 units @ $14 - 6,440 September 19 Purchased 270 units @ $16 - 4,320 During the year. The Shirt Shop sold 1.350 T-shirts for $25 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 per unit to 2 decimal places and final answers to the nearest whole dollar amount.) Ending Inventory FIFO LIFO Weighted average 6,40 January 20 Purchased 50 units. 35,2 April 21 Purchased 300 units 511 July 25 Purchased 450 units 514 September 19 Purchased 220 mits 516 During the year, The Short Shop sold 1.350 T-shirts for $25 each b. Record the above transactions in general Journal form and post to T-accounts assuming (OFFO (2) UFO, and a weighted average methods Use a separate set of journal entries and accounts for each method Assume al transactions are cash transactions Complete this question by entering your answers in the tabs below. Required Resuired Gewired 0 Required. Required Required T Rewired BT FIFO LIPO WA Act Acc LIPO ACE WA Record the above transattions in general journal form. I na entry is required for a trunsaction/event, telec "No journal entry required in the first account field) View transactions Journal entry worksheet Record the entry for purchase of inventory for cash on September 19. Note Enter debits before credit General Journal Date Sept 19 Debit Credit Hecord any Clear entry View general joumal During the year, The Shirt Shop sold 1.350 T-shirts for $25 each b. Record the above transactions in general journal form and post to Taccounts assuming i 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 cath transactions Complete this question by entering your answers in the tabs below. Required equired 3 required to as Required o Retuired By Required at Required DT FIFO LIFO WA Ace FIFO Ace LIPO AGE WA Record the above transactions in general journal form using Firo method. Assume all transactions are cash transactions. (If no entry required for a transaction/event, select "No journal entry required" in the first account feld) View transaction list Journal entry worksheet Record sale of inventory for cash. Note Edebit before credits General Journal Debat Credit Date Yeart Retry Clary Viewgaloma VIVIAN b. Record the above transactions in general journal form and post to T-accounts assuming (1) FIFO (2) LIFO, and (3) weighted-overage 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. Required BG Required 8 G Required BG Required BT Required T Required BT Required B FIFO LIFO WA Acc FIFO Acc LFO ACE 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 joumal entry required in the first account field.) View transaction ist Journal entry worksheet Record entry for cost of goods sold. Not inter debits before credits General Journal Debit Credit Date Year 1 Record entry Clear entry View general journal wCLIE Daud bus geneld journal form and post to T-accounts assuming (1) 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. Complete this question by entering your answers in the tabs below. Required BG Required By Required BG Required BT Required BT Required BT Required B FIFO LIFO WA Acc FIFO Acc LIFO Acc WA Record the above transactions in general journal form using weighted average 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. Round cost per unit to 2 decimal places and final answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 1 2 Record sale of inventory for cash. Noter Enter debits before credits General Journal Lebit Credit Dute Year 1 Record entry Clear entry View general journal During the year. The Shirt Shop sold 1,350 T-shirts for $25 each b. Record the above transactions in general Journal form and post to T-accounts assuming (1) 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 Complete this question by entering your answers in the tabs below. ok Required Required 8 ) Required B Required Required T Required T Required T FIFO WA Ace FIFO Acc UFO ACE WA LIFO Record the above transactions in general journal form using weighted average 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. Round cost per unit to 2 decimal places and final answers to the nearest whole dallar amount.) View transaction list Journal entry worksheet nces Record entry for cost of goods sold Not Enter debit before credite General Journal Debit Credit Date Year 1 Record entry Clear entry View general journal July 25 Purchased 400 units $14 6,440 September 19 Purchased 270 units 516 4,720 During the year. The Shirt Shop sold 1,350 T-shirts for $25 each b. Record the above transactions in general journal form and post to T-accounts assuming (1) FIFO (2) LIFO, and () weighted-average 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. Required BG) Required 8 G3 Required BG Required &T Required OT Required BT Required B FIFO LIFO WA Ace FIFO Acc LIFO ACE WA Post to T-accounts using FIFO method. Assume all transactions are cash transactions. Cash Merchandise Inventory Beg Bal Beg Bal End. Bal End Bal Sales Revenue Cost of Goods Sold Beg Bal. Beg Bal End Bal End, Bal Lumu yedi, SI UROIU b. Record the above transactions in general journal form and post to Taccounts assuming (1) 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 Complete this question by entering your answers in the tabs below. Required B Required a 3 Required BG) Required a Required BT Required By FIFO Required BT UFO WA Acc FIFO Acc LIFO Acc WA Post to T-accounts using LIFO method. Assume all transactions are cash transactions. Cash Merchandise Inventory Beg. Bal Beg Bal End, Bal End. Bal Sales Revenue Cost of Goods Sold Beg Bal Beg Bal End. Bal End. Bal During the year. The Shirt Shop sold 1,350 T-shirts for $25 each b. Record the above transactions in general Journal form and post to T-accounts assuming (1) FIFO. (2LIFO, and (3) weighted average 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. Required B Required B GJ Required B Q Required BG Required BT Required BT Required BT FIFO UFO WA Acc FIFO Acc LIFO Acc WA Post to T-accounts uning weighted average method. Assume all transactions are cash transactions. (Round cost per unit to 2 decimal places and final answers to the nearest whole dollar amount.) Cash Merchandise Inventory Beg Bal Beg Bal End, Bal End Bal Sales Revenue Cost of Goods Sold Beg Bal Beg Bal End Bal End. Bal