Chapter 50 Help Save & Exit Submit Check my werk 7 The Shin Shop had the following transactions for T-shirts for Yeart its first year of operations 10 Jan. 30 Purchased 21 Purchased July 25 Purchased Sept. 1) Purchased 330 to 512 = $3.960 140 .013 - 1.020 250 unite 514 - 3,500 93 unite During the year. The Shirt Shop sold 630 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) UFO, and (3) weighted average. b. Compute the difference in gross margin between the FIFO and LIFO cost fow assumptions Complete this question by entering your answers in the tabs below. Required Required Compute the amount of ending inventory The Shirt shoo would report on the balance sheet, assuming the following cost flow assumption (1) FIFO, (2) uro, and (3) weighted average. (Round intermediate calculations to 2 decimal places and final wers to the nearest whole dollar amount.) FIFO LIFO Weighted Erding voor Required) ME GEN Hill A M ? . H alt command