Check my work 8 102 Required information Exercise 5-5 (Algo) Effect of inventory cost flow on ending Inventory balance and gross margin LO 5-1 (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 ood Jan 20 Pureased Apr. 21 Purchased July 25 Parehased Sept. 19 Purchased 400 units 54 - 91.600 130 units E- 700 250 units. 5.- 2,000 100 units 510 - 1.000 B00 During the year, The Shirt Shop sold 720 T-shirts for $15 oach, @ rences Exercise 5-5 (Algo) Part a 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 intermediate calculations to 2 decimal places and final answers to nearest whole dollar amount.) FIFO UFO Weighted Average Ending inventory Chi 8 Required Information Part 1 of 2 Exercise 5-5 (Algo) Effect of inventory cost flow on ending Inventory balance and gross margin LO 5-1 The following information apples to the questions displayed below) The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: 25 points Sport Jan. 20Purchased 400 units 51,600 Apr. 21 Purchased 130 unit 36- 780 July 25 Purchased 250 units 2,000 Sept. 13 Phased 100 units 510 - 1.000 During the year, The Shirt Shop sold 720 T-shirts for $15 each Heerences Exercise 5-5 (Algo) Part a Required a. Compute the amount of ending inventory The Shint Shop would report on the balance sheet, assuming the following cost flow assumptions (0) FIFO, (2) UFO, and (3) weighted average (Round intermediate calculations to 2 decimal places and final answers to nearest whole dollar amount.) FIFO LIFO Weighted Average Ending inventory