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[The following information applies to the questions displayed below. ] The Shirt Shop had the following transactions for Tshirts for Year 1, its first year

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[The following information applies to the questions displayed below. ] The Shirt Shop had the following transactions for Tshirts for Year 1, its first year of operations: Jan. 20 Purchased 490 units 0 $ 8 = $3,920 Apr. 21 Purchased 290 units a $ 10 = 2,900 July 25 Purchased 370 units 6 $ 13 = 4,810 Sept. 19 Purchased 180 units a $ 15 = 2,700 During the year, The Shirt Shop sold 1,080 Tshirts for $24 each. k .1 Required 3. 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 per unit to 2 decimal places and final answers to the nearest whole dollar amount.) FIFO LIFO Weighted average

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