Check my [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 2e Purchased 428 units @ $83 $3,360 April 21 Purchased 220 units @ $10 = 2,200 July 25 Purchased 300 units $13 = 3,90e September 19 Purchased 110 units @ $15 = 1,650 During the year. The Shirt Shop sold 870 T-shirts for $24 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.) Ending Inventory FIFO LIFO Weighted average 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 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 515 1,650 During the year. The Shirt Shop sold 870 T-shirts for $24 each 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 3 of 3 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 Purchased 420 units e $ 8 = $3,360 April 21 Purchased 220 units @ $10 2,200 July 25 Purchased 3ee 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 5 etlook Hint PM forence c. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions Diforonco in gross margin between the FIFO and LIFO cost low assumptions S 9.770