Solve questions A and B using the same Shirt Shop information.

[ The follomng Informatlon applles to the guest,'ons dtsp/ayed below.) The Shltt Shop had the followlng transactlons for T-shirts for Year 1, Its first year of operatons: January 20 April 21 July 2S September 19 Purchased a units @ $4 Purchased units @ SS Purchased 250 units @ S' Purchased 6B units @ $9 $ l,e 1, ls Dunng the year, The Shlit Shop sold 650 T-shltts for $14 each. Exercise 5-5 (Algo) Part a Required a. Compute the amount of endlng Inventory The Shlrt Shop would report on the balance sheet, assumlng the followng cost flow assumptions: (1) FIFO, (2) I-IFO. and (3) welghted average. Note: Round Intermedlete celculetlons to 2 declmel places and final answers to nearest whole dollar amount. FIFO Ending inventory LIFO eigh Average b. Compute the dlfference In gross margn between the FIFO and LIFO cost flow assumptlons. FIFO Gross margin LIFO Difference