Required information IThe following information applies to the questions displayed below. The Shirt Shop had the following transactions for T-shirts for 2018, its first year of operations: Jan. 20 Purchased Apr. 21 Purchased July 25 Purchased Sept. 19 Purchased 4ee units @ $4# $1,600 13e units@$ 6780 25e units$ 82,e0e 100 units @ $1e# 1,000 During the year, The Shirt Shop sold 720 T-shirts for $15 each Required a. Compute the amount of ending inventory The Shirt Shop would report on the balance sheet, assuming the FIFO cost flow assumption FIFO Ending inventory b. Compute the gross margin using the FIFO cost flow assumption FIFO Gross margin