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 200 units 280 units 90 units @ @ @ $ 8 - $10 = $13 - $15 - $3,200 2,000 3,640 1,350 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