rowser=0&launchurl=https%253A%252F%252Fnewconnect.mhed BC. Content mework Saved Required information Exercise 5-5 Effect of inventory cost flow on ending inventory balance and gross margin LO [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 400 units 90 units 250 units 60 units @ $ 4 - $1,600 @ $5 - 450 @ $ 7 - 1,750 @ $9- 540 During the year, The Shirt Shop sold 650 T-shirts for $14 each. Exercise 5-5 Part a Required a. Compute the amount of ending inventory The Shirt Shop would report on the balance sheet, assuming the follow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. (Round Intermediate calculations to 2 decimal places am nearest whole dollar amount.) FIFO LIFO Weighted Average Ending inventory