! Required information [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 Purchased 400 units @ $ 8 $3,200 April 21 Purchased 200 units @ $10 2,000 July 25 Purchased 280 units @ $13 3,640 September 19 Purchased 90 units @ $15 1,350 During the year. The Shirt Shop sold 810 T-shirts for $20 each. = c. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions. Difference in gross margin between the FIFO and LIFO cost flow assumptions