The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: Jan. 20 Purchased 370 units Apr. 21 Purchased 140 units $12 $13 $4,440 1,820 July 25 Purchased 220 units $15- 3,300 Sept. 19 Purchased 100 units $16 1,600 During the year, The Shirt Shop sold 690 T-shirts for $21 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) LIFO, and (3) weighted average. b. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions.