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 Apr. 21 July 25 Sept. 19 Purchased Purchased Purchased Purchased 330 units Be units 270 units 70 units 5 4 - $1,20 es 6 = 45a es 1,760 $ 10 - 799 During the year, The Shirt Shop sold 530 T-shirts for $15 each b. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions FIFO LIFO Difference Gross margin