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The Shirt Shop had the following transactions for T-shirts for 2018, its first year of operations: Jan. 20 Purchased 440 units @ $ 9 =

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

Jan. 20 Purchased 440 units @ $ 9 = $ 3,960
Apr. 21 Purchased 150 units @ $ 10 = 1,500
July 25 Purchased 240 units @ $ 11 = 2,640
Sept. 19 Purchased 80 units @ $ 12 = 960

During the year, The Shirt Shop sold 720 T-shirts for $17 each.

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.)

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