9 Required information [The following information applies to the questions displayed below The Shirt Shop...
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9 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: 3an. 20 Purchased Apr. 21 Purchased July 25 Purchased Sept. 19 Purchased 400 units$8 $3,200 200 units s102,e00 ) units @ $13.3,640 0units @ $15= 1,35e During the year, The Shirt Shop sold 810 T-shirts for $20 each. b. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions. FIFO LIFO Difference Gross margin
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