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 140 units 210 units 80 units @ @ @ $ 6 = $ 8 = $10 = $12 = $2,640 1,120 2,100 960 During the year, The Shirt Shop sold 690 T-shirts for $17 each. b. Compute the gross margin using the FIFO cost flow assumption. FIFO Gross margin