The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: January 20- April 21 July 25 September 19 During the year, The Shirt Shop sold 720 T-shirts for $17 each. Required Purchased Purchased Purchased Purchased Required A Required B Ending inventory 440 units 150 units 240 units 80 units. 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. b. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions. Complete this question by entering your answers in the tabs below. FIFO @ @ @ LIFO 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. Note: Round Intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount. $9 $10 $11 $12 Weighted Average

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 720 T-shirts for $17 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) UIFO, and (3) weighted average. b. Compute the difference in gross margin between the FIFO and LIFO cost now assumptions. Complete this question by entering your answers in the tabs below. Compute the amount of ending inventory The Shirt Shop would report on the balance sheet, assuming the following cost now assumptions: (1) FIFO, (2) LIFO, and (3) welghted average. Note: Round intermediate calculations to 2 decimal places and final answers to the nearest whole doliar amount