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 @ @ 480 units 140 units 240 units 100 units $ 11 - $ 13 - 515 $ 16 - $5,280 1,820 3.600 1,600 @ During the year, The Shirt Shop sold 800 T-shirts for $21 each. Exercise 5-5 Part 6 b. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions. FIFO LIFO Difference Gross margin