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: Jan. 20 Purchased Apr. 21 Purchased July 25 Purchased Sept. 19 Purchased 440 units 130 units 240 units 70 units @ @ @ @ $ 9 = $11 = $12 = $13 = $3,960 1,430 2,880 910 During the year, The Shirt Shop sold 710 T-shirts for $18 each. b. Compute the gross margin using the FIFO cost flow assumption. FIFO Gross margin