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The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: During the year, The Shirt Shop sold 620
The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: During the year, The Shirt Shop sold 620 T-shirts for $17 each. \begin{tabular}{|l|c|c|c|} \hline & FIFO & LIFO & WeightedAverage \\ \hline Ending inventory & $1,720 & & \\ \hline \end{tabular} \begin{tabular}{|l|c|c|c|} \hline & FIFO & LIFO & Difference \\ \hline Gross margin & & & \\ \hline \end{tabular}
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