[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: Jan. 20 Purchased 480 units @ $ 9 = $4,320 Apr. 21 Purchased 280 units @ $ 11 = 3,080 July 25 Purchased 360 units @ $ 14 = 5,040 Sept. 19 Purchased 170 units @ $ 16 = 2,720 During the year, The Shirt Shop sold 1,050 T-shirts for $25 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.)

I need FIFO > ending inventory

LIFO > ending inventory

Weighted average > ending inventory Please show work.

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.]