Check my work The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: @ @ Jan. 20 Apr. 21 July 25 Sept. 19 Purchased Purchased Purchased Purchased 408 units 200 units 280 units 90 units $ 8. $3,200 $10 = 2,eee $13 = $15 - @ 3,640 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 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 Prev 1 of 1 !!! Next > 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. (Round intermediate calculations to 2 decimal places and final answers to nearest whole dollar amount.) Weighted FIFO LIFO Average Ending inventory $ 2,260 $ 1,280 $ 1,682 (Required A Required B > assumpunis. ( Viru, (4) LINU, CIU) Weigneu averaye. 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 difference in gross margin between the FIFO and LIFO cost flow assumptions. SER FIFO LIFO Difference $ 24,300 $ 8,910 $ 980 Gross margin