Shirt Shop

Jan 20	Purchased 550 units	$10	$5500
April 21	Purchased 350 units	$12	$4200
July 25	Purchased 430 units	$15	6450
September 19	Purchased 240 units	$17	4080

During the year , "The Shirt Shop" sold 1260 T-shirts for $26.

LIFO (General Journal Entry)

1. Record of Sale of Inventory for cash.

2. Record entry for cost of goods sold.

Weighted Average (General Journal Entry)

1. Record of Sale of Inventory for cash.

2. Record entry for cost of goods sold.