Secure https:/ewconnect CHAPTER 5 Homework Exercise 5-20 Effect of inventory cost flow on ending inventory balance and gross margi The 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: Part 1 of 2 Jan. 20 Purchased Apr. 21 Purchased uly 25 Purchased Sept. 19 Furchased 480 units @ 11 " 5.280 140 units $131,820 240 units $15 3,600 100 units $ 16 . 1,600 During the year, The Shirt Shop sold 800 T-shirts for $21 each. References Exercise 5-20 Part a Required a. Compute the amount of ending inventory The Shirt Shop would report on therbalance sheet, assuming the foll assumptions: (1) FIFO, (2) LFO, and (3) weighted average. Round intermediate calculations to 2 decimal place to the nearest whole dollar amount Ending inventory 3 5 6 9