The Shirt Shop had the following transactions for T-shirts for Year 1, its first year...
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The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations. January 20 Purchased 420 units @ $ 8 = $3,360 April 21 Purchased 220 units @ $10 = 2,200 July 25 Purchased 300 units @ $13 = 3,900 September 19 Purchased 110 units @ $15 = 1,650 During the year, The Shirt Shop sold 870 T-shirts for $24 each. What is the ending inventory for FIFO, LIFO and the weighted average?
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