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 $3,2ee April 21 Purchased 200 units @ $10 2, eee July 25 Purchased 280 units @ $13 3,640 September 19 Purchased 90 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) welghted-average methods. 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 below. WA Required B Required B G Required B G Required B G Required BT Required BT Required BT FIFO LIFO Acc FIFO Acc LIFO Acc WA Record the above transactions in general journal form. (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 Record the entry for purchase of inventory for cash on January 20. Note: Enter debits before credits. Date General Journal Debit Credit Jan. 20 Record entry Clear entry View general journal 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, eee July 25 Purchased 280 units @ $13 3,640 September 19 Purchased 90 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. Complete this question by entering your answers in the tabs below. Required B Required B G Required B G Required B G Required BT Required BT FIFO LIFO WA Acc FIFO Acc LIFO Required BT Acc WA 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.) View transaction list Journal entry worksheet Record sale of inventory for cash. Note: Enter debits before credits. Date General Journal Debit Credit Year 1 Record entry Clear entry View general journal 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 400 units @ $ 8 Purchased 200 units @ $10 Purchased 280 units @ $13 Purchased 90 units @ $15 $3,200 2, eee 3,640 1,350 = = During the year, The Shirt Shop sold 810 T-shirts for $20 each. Record the above transactions in general Journal form and post to T-accounts assuming (1) FIFO, (2) LIFO, and (3) weighted average ethods. 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 below. WA Required B Required BG Required BG Required B G Required BT Required BT Required BT FIFO LIFO Acc FIFO Acc LIFO Acc WA 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.) View transaction list Journal entry worksheet 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 $3,2ee April 21 Purchased 200 units @ $10 2, eee July 25 Purchased 280 units @ $13 3,640 September 19 Purchased 90 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) welghted-average methods. 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 below. WA Required B Required B G Required B G Required B G Required BT Required BT Required BT FIFO LIFO Acc FIFO Acc LIFO Acc WA Record the above transactions in general journal form. (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 Record the entry for purchase of inventory for cash on January 20. Note: Enter debits before credits. Date General Journal Debit Credit Jan. 20 Record entry Clear entry View general journal 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, eee July 25 Purchased 280 units @ $13 3,640 September 19 Purchased 90 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. Complete this question by entering your answers in the tabs below. Required B Required B G Required B G Required B G Required BT Required BT FIFO LIFO WA Acc FIFO Acc LIFO Required BT Acc WA 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.) View transaction list Journal entry worksheet Record sale of inventory for cash. Note: Enter debits before credits. Date General Journal Debit Credit Year 1 Record entry Clear entry View general journal 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 400 units @ $ 8 Purchased 200 units @ $10 Purchased 280 units @ $13 Purchased 90 units @ $15 $3,200 2, eee 3,640 1,350 = = During the year, The Shirt Shop sold 810 T-shirts for $20 each. Record the above transactions in general Journal form and post to T-accounts assuming (1) FIFO, (2) LIFO, and (3) weighted average ethods. 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 below. WA Required B Required BG Required BG Required B G Required BT Required BT Required BT FIFO LIFO Acc FIFO Acc LIFO Acc WA 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.) View transaction list Journal entry worksheet