Exercise 5-5A 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 Jan. 2e Apr. 23 July 25 Sept. 19 Purchased Purchased Purchased Purchased 430 units @ $7 - $3,010 230 units @ $9- 2,070 310 units @ $ 12 3,720 120 units @ $ 14 - 1.680 During the year. The Shirt Shop sold 900 T-shirts for $23 each Exercise 5-5A Part a Required o. 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.)