! 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 (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 Required B Required B G Reqdired B GJ Required B G Required BT Required BT Required BT FIFO LIFO Acc FIFO Acc LIFO Acc WA WA Record the above transactions in general journal form using LIFO 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 2 1 Record sale of inventory for cash. Note: Enter debits before credits General Journal Debit Credit Date Year 1 Record entry Clear entry View general Journal Required B Required B G) Required B G) Required B G Required BT Required BT Required BT FIFO LIFO WA Acc FIFO Acc LIFO Acc WA Record the above transactions in general journal form using LIFO method. Assume all transactions are cash transactions. (Ir no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet