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The Shirt Shop had the following transactions for T-shirts for 2018, its first year of operations: Jan. 20 Purchased 370 units @ $ 12 =

The Shirt Shop had the following transactions for T-shirts for 2018, its first year of operations:

Jan. 20 Purchased 370 units @ $ 12 = $ 4,440
Apr. 21 Purchased 140 units @ $ 13 = 1,820
July 25 Purchased 220 units @ $ 15 = 3,300
Sept. 19 Purchased 100 units @ $ 16 = 1,600

During the year, The Shirt Shop sold 690 T-shirts for $21 each.

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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 intermediate calculations to 2 decimal places and final answers to nearest whole dollar amount.)

FIFO LIFO Weighted Avg
ending inventory

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