The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: Jan. 20 Purchased 410 units @ $ 12 = $ 4,920 Apr. 21 Purchased 130 units @ $ 13 = 1,690 July 25 Purchased 230 units @ $ 14 = 3,220 Sept. 19 Purchased 80 units @ $ 15 = 1,200 During the year, The Shirt Shop sold 680 T-shirts for $20 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