Required information [The following information applies to the questions displayed below.] The Shirt Shop had the following transactions for T-shirts for 2018, its first year of operations: Jan. 20 Purchased Apr. 21 Purchased July 25 Purchased Sept. 19 Purchased 420 units 150 units 230 units 80 units @ @ @ @ $ 9 = $10 = $12 = $13 = $3,780 1,500 2,760 1,040 During the year, The Shirt Shop sold 730 T-shirts for $18 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 the nearest whole dollar amount. FIFO LIFO Weighted Average Ending inventory Required information [The following information applies to the questions displayed below.] Leach Inc. experienced the following events for the first two years of its operations: 2018: 1. Issued $10,000 of common stock for cash. 2. Provided $80,000 of services on account. 3. Provided $31,000 of services and received cash. 4. Collected $49,000 cash from accounts receivable. 5. Paid $20,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 6 percent of the ending accounts receivable balance will be uncollectible. 2019: 1. Wrote off an uncollectible account for $670. 2. Provided $100,000 of services on account. 3. Provided $25,000 of services and collected cash. 4. Collected $82,000 cash from accounts receivable. 5. Paid $30,000 of salaries expense for the year. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 6 percent of the ending accounts receivable balance will be uncollectible. a. Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank.) LEACH INC. Assets Accounting Equation for the Year 2018 Equity = Liabilities Common Retained Allowance stock Earnings Event Accounting Titles for Retained Earnings Accounts Receivable Cash - + + + + + + + + + - n n two + + + + + + + + + Bal. + + + Complete this question by entering your answers in the tabs below. Req B Inc Stmt Req B Stmt SE Reg B Bal Sheet Reg B Stmt Cash Flows Prepare the statement of cash flows for 2018. (Amounts to be deducted should be indicated with a minus sign.) LEACH INC. Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Inflow for issue of common stock Net change in cash Ending cash balance c. What is the net realizable value of the accounts receivable at December 31, 2018? Net realizable value