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The following information applies to the questions displayed below The Shirt Shop had the following transactions for T-shirts for 2016, Its first year of operations:
The following information applies to the questions displayed below The Shirt Shop had the following transactions for T-shirts for 2016, Its first year of operations: 450 units $9 $4,050 Jan. 20Purchased Apr. 21 Purchased250 units@ $112.750 July 25 Purchased 330 units@ $14 4,620 Sept 19 Purchased140 units@ $16 2,240 During the year, The Shirt Shop sold 960 T-shirts for $25 each. value 33.33 points 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.) Inventory FIFO LIFO Weighted Average 0
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