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Required information [The following information applies to the questions displayed below.) The Shirt Shop had...

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Accounting

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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 Year 1, its first year of operations, January 20 Purchased 600 units @ $ 7 $4,200 April 21 Purchased 400 units 59 = 3,600 July 25 Purchased 480 units @ $12 - 5,760 September 19 Purchased 290 units $14 - 4,060 During the year. The Shirt Shop sold 1,410 T-shirts for $23 each. 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, ond (3) weighted average. (Round cost per unit to 2 decimal places and final answers to the nearest whole dollar amount.) Ending Inventory FIFO LIFO Weighted average

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