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[The following information applies to the questions displayed below] The Shirt Shop had the following transactions for T-shints for Year 1 , its first yeat

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[The following information applies to the questions displayed below] The Shirt Shop had the following transactions for T-shints for Year 1 , its first yeat of operations. During the year, The Shirt Shop sold 1,020 T-shirts for $23 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 per unit to 2 decimal places and final answers to the nearest whole dollar amount.) Record the entry for purchase of inventory for cash on January 20. Note: Enter debits before credits. Journal entry worksheet Record sale of inventory for cash. Note: Enter debits before credits

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