Required information 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. 20 Apr. 21 July 25 Sept. 19 Purchased Purchased Purchased Purchased 540 units $ 7 = $3,780 340 units @ $ 9 3,060 420 units @ $ 12 = 5,040 230 units @ $ 14 = 3,220 During the year, The Shirt Shop sold 1,230 T-shirts for $23 each. Exercise 5-5A Part a Required a. 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.) Ending Inventory FIFO LIFO Weighted average