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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
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 Purchased 490 units $8$3,920 Apr. 21 Prchased 290 units 102,900 July 25Purchased 370 units 134,810 Sept. 19 Purchased 180 units e s 152,700 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 pe i to 2 decimal places and final answers to the nearest whole dollar amount.) Ending Inventory FIFO LIFO Weighted average 4,910 2,800 3.770
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