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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. During the year, The Shirt Shop sold 930 T-shirts for $24 each. Record the above transactions in general journal form and post to T-accounts assuming (1) FIFO, (2) LIFO, and (3) weighted-average nethods. Use a separate set of journal entries and T-accounts for each method. Assume all transactions are cash transactions
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