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 $20$

April $21$

July $25$

September $19$

Purchased $490$ units a $$8=$

Purchased $290$ units a $$10=$$$3,920$

Purchased $370$ units a $$13=2,900$

Purchased $180$ units @ $$15=,4,810$

During the year, The Shirt Shop sold $1,080$ T$-$shirts for $$24$ 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.$)$

$\backslash$table$[[,\backslash$table$[[$Ending$],[$Inventory$]]],[$FIFO$,],[$LIFO$,],[$Weighted average,$]]$

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.

Record the above transactions in general journal form.

Record the entry for purchase of inventory for cash on January $20.$

Record the entry for purchase of inventory for cash on April $21.$

Record the entry for purchase of inventory for cash on July $25.$

Record the entry for purchase of inventory for cash on September $19.$

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.$)$

Record sale of inventory for cash.

Record entry for cost of goods sold.

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.$)$

Record sale of inventory for cash

Record entry for cost of goods sold.

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.$)$

Record sale of inventory for cash.

Record entry for cost of goods sold.

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$\backslash$table$[[$Required B G$)],[$FIFO$]],\backslash$table$[[$Required B GJ$],[$LIFO$]],\backslash$table$[[$Required B GJ$],[$WA$]],\backslash$table$[[$Required B T$],[$Acc FIFO$]],\backslash$table$[[$Required B $T$