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: Jan. 20 Apr. 21 Purchased Purchased 480 units @$11 $5,280 July 25 Purchased 140 units 240 units @$13= 1,8201 Sept. 19. Purchased 100 units @$15 @$16 3,600 1,600 During the year, The Shirt Shop sold 800 T-shirts for $21 each. 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 flor assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. (Round intermediate calculations to 2 decimal places and final ans nearest whole dollar amount.) Weighted FIFO LIFO Average Ending inventory