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 480 units 140 units 240 units 100 units @ @ @ @ $11 = $13 = $15 = $16 = $5,280 1,820 3,600 1,600 During the year, The Shirt Shop sold 800 T-shirts for $21 each. b. Compute the gross margin using the FIFO cost flow assumption. FIFO Gross margin