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Compute the difference in gross margin between the fifo and

The shirt shop had the following transactions for T-shirtsfor 2016, its first year of operations:

Jan. 20	Purchased 400 units @ $8	$3200
Apr. 21	Purchased 200 units @ $10	$2000
July 25	Purchased 280 units @ $13	$3640
Sept. 19	Purchased 90 units @ $15	$1350

During this year the shirt shop sold 810 T0shirts for $30each.

A. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions.

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Accounting Basics: Compute the difference in gross margin between the fifo and

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Accounting Basics: Compute the difference in gross margin between the fifo and

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