Required information Exercise 5-5A (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. January 20 April 21 July 25 September 19 Purchased 480 units @$9- Purchased 280 units @ $11- $4,320 3,080 Purchased 360 units $14- Purchased 170 units @ $16- 5,040 2,720 During the year, The Shirt Shop sold 1,050 T-shirts for $25 each Exercise 5-5A (Algo) Part b b. Record the above transactions in general journal form and post to T-accounts assuming (1) FIFO, (2) LIFO, and (3) weighted average methods: Use a separate set of journal entries and T-accounts for each method. Assume all transactions are cash transactions Camalate this mostinn hu ontorinn your ancware