The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: Jan. 20 Apr. 21 July 25 Sept. 19 Purchased Purchased Purchased Purchased 510 units @ $ 9 = 310 units @ $ 11 = 390 units @ $ 14 = 200 units @ $ 16 = $4,590 3,410 5,460 3,200 During the year, The Shirt Shop sold 1,140 T-shirts for $25 each. c. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions. Difference in gross margin between the FIFO and LIFO cost flow assumptions