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The shirt shop had the following transactions for t-shirts for year 1, its first year of operations: jan. 20 purchased 400 units @ $ 8 = $ 3,200 apr. 21 purchased 200 units @ $ 10 = 2,000 july 25 purchased 280 units @ $ 13 = 3,640 sept. 19 purchased 90 units @ $ 15 = 1,350 during the year, the shirt shop sold 810 t-shirts for $20 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. (round cost per unit to 2 decimal places and final answers to the nearest whole dollar amount.)
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The shirt shop had the following transactions for t-shirts for year 1, its first year of operations:...
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