Required information (The following information applies to the questions displayed below.) The Shirt Shop had...
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Required information (The following information applies to the questions displayed below.) The Shirt Shop had the following transactions for T-shirts for 2018, its first year of operations: Jan. 20 Purchased Apr. 21 Purchased July 25 Purchased Sept. 19 Purchased 420 units 150 units 230 units BO units @ @ @ @ $9 $10 - $12- $13 - $3,780 1,500 2,760 1,040 During the year, The Shirt Shop sold 730 T-shirts for $18 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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