Required Information [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 540 units $7 Purchased 340 units @ 59 Purchased 420 units $12 Purchased 230 units $14 $3,780 3,060 5,040 3,220 During the year, The Shirt Shop sold 1,230 T-shirts for $23 each. Required a. Compute the amount of ending Inventory The Shirt Shop would report on the balance sheet, assuming the following cost flow assumpulons: (1) FIFO, (2) LFQ, 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 Required Information [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 2e Purchased 540 units e 5 7 = 33,730 April 21 Purchased 340 units 59 = 3,60 July 25 Purchased 420 units 512 5,040 September 19 Purchased 23e units e $14 3,220 During the year, The Shirt Shop sold 1.230 T-shirts for $2 each b. Record the above transactions in general Journal form and post to T-accounts assuming (1) FIFO, (2) UFO, and 3) weighted-average methods. Use a separate set of journal entries and T-accounts for each method. Assume all transactions are cash transactions. Complete this question by entering your answers in the tabs below. Required B Required BG Required B. Required 8 GJ Required By Required BT Required BT FIFO UFO WA Ace FIFO Ace UFO Acc WA Record the above transactions in general journal form. If he entry is required for a transactionlevent, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Required Information [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 2e April 21 July 25 September 19 Purchased 54e units 57 Purchased 340 units @ $9 Purchased 420 units 512 - Purchased 230 units 514 - $3,780 3,660 5,040 3,220 During the year. The Shirt Shop sold 1.230 T-shirts for $23 each. c. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions Difference in gross marge between the PO and LIFO cost toptions