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Required information

Exercise $5-5$A $($Static$)$ 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.

January $20$

April $21$

July $25$

September $19$

Purchased $400$ units @ $$8=$$$3,200$

Purchased $200$ units @ $$10=2,000$

Purchased $280$ units a $$13=3,640$

Purchased $90$ units @ $$15=1,350$

During the year, The Shirt Shop sold $810$ T$-$shirts for $$20$ each.

Exercise $5-5$A $($Static$)$ 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 whole dollar amount.$)$

$\backslash$table$[[,$Ending Inventory$],[$FIFO$,],[$LIFO$,],[$Weighted Average,$]]$