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Please help answer/ fill in the chart for part a and b of this question. The Shirt Shop had the following transactions for T-shirts for
Please help answer/ fill in the chart for part a and b of this question.
The Shirt Shop had the following transactions for T-shirts for 2018, its first year of operations: Jan. 20 Purchased 400 units 8$3,200 Apr. 21 Purchased 200 units @ $10= 2,000 July 25Purchased 280 units e 13 3,640 Sept. 19 Purchased 90 units 151,350 During the year, The Shirt Shop sold 810 T-shirts for $20 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 intermediate calculations to 2 decimal places and final answers to nearest whole dollar amount.) FIFO LIFO Weighted Average Ending inventory $ 2,260 $1,280Step by Step Solution
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