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Saved Required information [The following information applies to the questions displayed below.] The Shirt Shop...

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Accounting

Saved 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 April 21 July 25 September 19 Purchased 440 units @ $9= Purchased 130 units (a) $11= Purchased 240 units @ $12= Purchased 70 units @ $13= $3,960 1,430 2,880 910 During the year, The Shirt Shop sold 710 T-shirts for $18 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, and (3) weighted average. Note: Round intermediate calculations to 2 decimal places and final answers to nearest whole dollar amount

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