The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: Jan. 20 Purchased 440 units @ $ 6 = $ 2,640 Apr. 21 Purchased 140 units @ $ 8 = 1,120 July 25 Purchased 210 units @ $ 10 = 2,100 Sept. 19 Purchased 80 units @ $ 12 = 960 During the year, The Shirt Shop sold 690 T-shirts for $17 each. Required 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. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions.