- Assignment i Save Help Save & Exit Su Required information Exercise 5-5A Effect of inventory cost flow on ending inventory balance and gross margin LO 5-1 [The following information applies to the questions displayed below) The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: Jan. 20 Apr. 21 July 25 Sept. 19 Purchased Purchased Purchased Purchased 520 units @ $9 = $4,680 320 units @ $ 113,520 400 units @ $ 14 = 5,600 210 units @ $ 16 = 3,368 During the year, The Shirt Shop sold 1.170 T-shirts for $25 each Exercise 5-5A Part a 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. (Round cost per unit to 2 decimal places and final answers to the nearest wwhole dollar amount.) Ending Inventory FIFO LIFO Weighted average Brou 12 : Minut