The Shirt Shop had the following transactions for Year 1, its first year of operations:

The Shirt Shop had the following transactions for T-shirts for Year 1. its first year of operations e Jan. 20 Apr. 21 July 25 Sept. 19 Purchased Purchased Purchased Purchased 440 units 130 units 24e units 70 units $9 = $3,960 $11 = 1,430 $12 = 2,880 $13 = 910 During the year. The Shirt Shop sold 710 T-shirts for $18 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