THE SHIRT SHOP HAD THE FOLLOWING TRANSACTIONS FOR SHIRTS FOR 2016, its first year of operations: Jan. 20 purchase 400 units @ $8 = $3200 Apr.21 purchase 200 units @ $10 = $2000 July 25 purchase 280 units @ $13 = $3640 Sept.19 purchase 90 units @ $15 = $1350 During the year, the shirt shop sold 810 t-shirt for $30 each. Required a. Compute he amount of ending inventory the shirt shop would report on the balance sheet, assuming the following cost flow assumptions: (1) FIFO (2) LIFO (3) WEIGHTED AVERAGE. b. RECORD THE ABOVE TRANSACTION IN GENERAL Journal form and post o t=accounts assuming (1)FIFO (2)LIFO (3) WEIGHTED AVEERAGE METHODS. USE A SEPARATE SET OF JOURNAL ENERIES AND T-ACCOUNTS FOR EACH METHOD. ASSUME all transactions are cash transaction. c. Compute the difference in gross margin between the FIFO AND LIFO COST FLOW ASSUMPTIONS.