Chapter 5 HW Saved 6 Required information (The following information applies to the questions displayed below.) Part 3 of 3 The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations. 14.28 points January 20 April 21 July 25 September 19 Purchased 470 units @ $ 7 = Purchased 270 units @ $9 = Purchased 350 units @ $12 = Purchased 160 units @ $14 = $3,290 2,439 4,200 2,240 Skipped During the year, The Shirt Shop sold 1,020 T-shirts for $23 each. eBook c. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions. co Hint Difference in gross margin between the FIFO and LIFO cost flow assumptions Print References