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 Purchased 490 units $B. $3,920 April 21 Purchased 290 units @ $10 2.900 July 25 Purchased 370 units $13 4,810 September 19 Purchased 180 units $15 2,700 During the year, The Shirt Shop sold 1,080 T-shirts for $24 each. 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 ces FIFO LIFO Weighted average 0 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 Purchased 490 units $8 $3,920 April 21 Purchased 290 units @ $10 - 2.900 July 25 Purchased 370 units 513 4,810 September 19 Purchased 180 units $15 - 2,700 During the year, The Shirt Shop sold 1,080 T-shirts for $24 cach. b. Record the above transactions in general journal form and post to T-accounts assuming (FIFO, (2) LIFO, and (3) weighted-overage 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 8 G) Required BG Required BG Required BT Required BT Required T FIFO LIFO WA Acc FIFO Ace LIPO Ace WA Record the above transactions in general Journal form (i no entry required for a transaction/event, select "No journal entry required In the rst account d.) View transactions Journal entry worksheet 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 Purchased 490 units as a $3,920 April 21 Purchased 290 units @ $10 - 2,900 July 25 Purchased 370 units $13 - 4,810 September 19 Purchased 180 units @ $15 - 2,700 During the year, The Shirt Shop sold 1,080 T-shirts for $24 each. c. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions. Difference in gross margin between the FIFO and LIFO cost flow assumptions