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 390 units 110 units 230 units 90 units @ @ @ $ 3 = $ 4 - $ 6 = $ 8 = $1,170 440 1,380 720 During the year, The Shirt Shop sold 620 T-shirts for $13 each. b. Compute the gross margin using the FIFO cost flow assumption. FIFO Gross margin