! Required information (The following information applies to the questions displayed below.) Pam's Creations had the following sales and purchase transactions during Year 2. Beginning inventory consisted of 130 items at $81 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records. Date Mar. 5 Apr. 10 June 19 Sept. 16 Nov. 28 Transaction Purchased Sold Sold Purchased Sold Description 110 items @$ 91 75 items @ $177 125 items @$177 60 items @$ 96 65 items @$182 b. Calculate the gross margin Pam's Creations would report on the Year 2 income statement. (Amounts to be deducted should be indicated with a minus sign.) Sales Cost of goods sold Gross margin ! Required information [The following information applies to the questions displayed below.] Pam's Creations had the following sales and purchase transactions during Year 2. Beginning inventory consisted of 130 items at $81 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records. Date Mar. 5 Apr. 10 June 19 Sept. 16 Nov. 28 Transaction Purchased Sold Sold Purchased Sold Description 110 items @ $ 91 75 items @ $177 125 items @ $177 60 items @$ 96 65 items @ $182 c. Determine the ending inventory balance Pam's Creations would report on the December 31, Year 2, balance sheet. Ending inventory