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Required information [The following information applies to the questions displayed below] The Shirt Shop had the following transactions for T-shirts for Year 1, its first

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Required information [The following information applies to the questions displayed below] The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: During the year, The Shirt Shop sold 720 T-shirts for $15 each. b. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions

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