The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: Jan. 20 Purchased Apr. 21 Purchased July 25 Purchased Sept. 19. Purchased 390 units 110 units 230 units 90 units @ @ @ $3 = $1,170 $4= 440 $ 6 = 1,380 $ 8 = 720 During the year, The Shirt Shop sold 620 T-shirts for $13 each. Required a. Compute the amount of ending inventory The Shirt Shop would report on the balance sheet, assuming the following cos 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. Required A 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 (Round intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount.) Weighted Average Ending inventory FIFO LIFO