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: During the year, The Shirt Shop sold 710 T-shirts for $18 each. xercise 5.5 (Algo) Part a equired Compute the amount of ending inventory The Shirt Shop would report on the balance sheet, assuming the following cost flow ssumptions: (1) FIFO, (2) LIFO, and (3) weighted average. lote: Round intermediate calculations to 2 decimal places and final answers to nearest whole dollar amount