! Required information [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: 400 units Jan 20 $3,200 2,000 3,640 1,350 Purchased $ 8= $10 $13 200 units Apr. 21 July 25 Purchased Purchased 280 units 90 units Sept. 19 Purchased $15= During the year, The Shirt Shop sold 810 T-shirts for $20 each. b. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions Answer is complete but not entirely correct. FIFO LIFO Difference Gross $9,180 $8,200 (x$ 980 margin