Required information [The following information applies to the questions displayed below.) The Shirt Shop had the following transactions for T-shirts for 2018, its first year of operations: @ Jan. 20 Apr. 21 July 25 Sept. 19 Purchased Purchased Purchased Purchased 480 units 140 units 240 units 100 units $11 $5,280 $13 1,820 $15 3,600 $16 1,600 @ During the year. The Shirt Shop sold 800 T-shirts for $21 each. Required a. Compute the amount of ending inventory The Shirt Shop would report on the balance sheet, assuming the FIFO cost flow assumption FIFO Ending inventory b. Compute the gross margin using the FIFO cost flow assumption. FIFO Gross margin