4 The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: 5 January 20 April 21 Purchased 420 units @ $9 = Purchased 150 units @ $10 = $3,780 1,500 points July 25 Purchased 230 units @ $12 = September 19 Purchased 80 units @ $13 = 2,760 1,040 During the year, The Shirt Shop sold 730 T-shirts for $18 each. eBook Required References 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. b. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions. Complete this question by entering your answers in the tabs below. Required A Required B 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 the nearest whole dollar amount. FIFO LIFO Weighted Average Ending inventory $ 13,320 $ 1,350 $ 1,548 Required A Required B >