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[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

[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.

January 20 Purchased 400 units @ $ 8 = $3,200
April 21 Purchased 200 units @ $10 = 2,000
July 25 Purchased 280 units @ $13 = 3,640
September 19 Purchased 90 units @ $15 = 1,350

During the year, The Shirt Shop sold 810 T-shirts for $20 each.

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.)

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