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The Shirt Shop had the following transactions for T-shirts for 2018, its first year of operations: @ Jan. 20 Apr. 21 July 25 Sept. 19

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The Shirt Shop had the following transactions for T-shirts for 2018, its first year of operations: @ Jan. 20 Apr. 21 July 25 Sept. 19 Purchased Purchased Purchased Purchased 330 units 140 units 250 units 90 units $12 = $13 = $14 = $16 = $3,960 1,820 3,500 1,440 @ During the year, The Shirt Shop sold 630 T-shirts for $21 each. Required a. Compute the amount of ending inventory The Shirt Shop would report on the balance sheet, assuming the FIFO cost flow assumption FIFO Ending inventory

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