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: Jan. 20 Prchased 440 units 8$3,520 Apr. 21 Purchased 240 units 102,400 July 25 Purchased 320 units e $ 13-4,160 Sept. 19 Purchased 130 units 15-1,950 During the year, The Shirt Shop sold 930 T-shirts for $24 each. b. Record the above transactions in general journal form and post to T-accounts using(1) FIFO, (2) LIFO, and (3) weighted average. 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 b Required B GJ FIFO Required B G) Required B G Required B T Acc FIFO Required B T Acc LIFO Required B T Acc WA Required B LIFO WA Required B GJ Required B GJ Required B GJ Required BT Required B T Acc LIFO Required B T Acc WA Required B FIFO LIFO WA Acc FIFO Record the above transactions in general journal form using FIFO method. Assume all transactions are cash required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 Record sale of inventory for cash. Note: Enter debits before credits. Date General Journal Debit Credit Year 1 B G Reguired) Required B Required B GJ Required B GJ Required B GJ Required BT Required B T Acc LIFO Required B T Acc WA Required B FIFO LIFO WA Acc FIFO Record the above transactions in general journal form using LIFO method. Assume all transactionsa required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 Record sale of inventory for cash. Note: Enter debits before credits. Date General Journal Debit Credit Year 1 : Required B GJ Required B GJ Required B GJ LIFO Required BT Acc FIFO Required BT Acc LIFO Required B T Acc WA Required B FIFO WA Record the above transactions in general journal form using weighted average method. Assume all t no entry is required for a transaction/event, select "No journal entry required" in the first account fie places and final answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 1 2 Record sale of inventory for cash. Note: Enter debits before credits. Date General Journal Debit Credit Year 1 Required EB Required B GJ Required B GJ Required B GJ Required B TRequired B T WA Required B T Acc WA FIFO LIFO Acc FIFO Acc LIFC Post to T-accounts using FIFO method. Assume all transactions are cash transactions Cash Merchandise Inventory Beg. Bal Beg. Bal End. Bal Sales Revenue Cost of Goods Sold Beg. Bal Beg. Ba End. Bal End. Bal Required B GJRequired B GJ Required B GJRequired BT Required B TRequired B T RequiredB FIFO LIFO WA Acc FIFOAcc 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 Sales Revenue Cost of Goods Sold Beg. Bal Beg. Bal End. Bal End. Bal Required B GJ Required B GJ Required B G LIFO Required B T Acc FIFO Required B T Acc LIFO Required B T Acc WA RequiredB FIFO WA Post to T-accounts using weighted average method. Assume all transactions are cash transactions. (Round cost decimal places and final answers to the nearest whole dollar amount.) Cash Merchandise Inventory Beg. Ba Beg. Bal End. Bal Sales Revenue Cost of Goods Sold Beg. Bal Beg. Bal End. Bal End. Bal