Exercise 5-20 Effect of inventory cost flow on ending inventory balance and gross margin Bristol Sales had the following transactions for DVDs in 2012, its first year of operations. = Jan. 20 Apr. 21 July 25 Sept. 19 Purchased 75 units @ $17 Purchased 450 units @ $19 Purchased 200 units @ $23 Purchased 100 units @ $29 $1,275 8,550 4,600 2,900 During the year, Bristol Sales sold 775 DVDs for $60 each. Required a. Compute the amount of ending inventory Bristol would report on the balance sheet, assum- ing 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