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 400 units @ $8# $3,200 200 units$102,000 280 units $133,640 90 units $15 1,35e 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. FIFO LIFO Difference Gross margin