Chapter 5 Homework #1 Saved Help Save & Exit SU Check my wo [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. Part 2 of 2 January 20 Purchased 580 units @ $ 9 = $5, 220 April 21 Purchased 380 units @ $11 - 4, 180 July 25 Purchased 460 units @ $14 = 6, 440 September 19 Purchased 270 units @ $16 - 4, 320 2.6 points During the year, The Shirt Shop sold 1,350 T-shirts for $25 each. eBook b. Record the above transactions in general journal form and post to T-accounts assuming (1) FIFO, (2) LIFO, and (3) weighted-average methods. Use a separate set of journal entries and T-accounts for each method. Assume all transactions are cash transactions. Hint References Complete this question by entering your answers in the tabs below. Required B GJ Required B GJ Required B GJ Required B T Required B T Required B T Required B FIFO LIFO WA ACC FIFO ACC LIFO ACC WA Record the above transactions in general journal form using FIFO method. Assume all transactions are cash transactions. (If no entry is required for a transaction/ event, select "No journal entry required" in the first account field.) View transaction list