Assume Watch World began April with an inventory of 22 smart watches that cost $54 each Watch World sells them for $130 each. During April, Watch World bought and sold inventory as follows (Click the icon to view the transactions.) The resulting journal entries are provided below (Click the icon to view the journal entries.) Show the computation of gross margin for the FIFO and moving-weighted average cost methods for Watch World Fannar First, determine the formula, and then enter the amounts to calculate gross margin under FIFO and moving weighted average cost (Round your answers to the nearest whole dollar.) Gross Margin FIFO Moving-weighted average cost margin for the FIFO and moving-weighted average-cost methods for Watch Wom i Transactions x Vh Veig Apr. 3 Sold 19 smart watches for $130 each. 16 Purchased 26 smart watches at $67 each. 23 Sold 13 smart watches for $130 each. Print Done DEBIT/CREDIT AMOUNTS FIFO Apr 3 2.470 Moving-Weighted Average 2.470 2,470 1,026 2470 Apr. 3 1 026 1,026 1,026 Apr. 16 Accounts Accounts Receivable Sales Revenue Cost of Goods Sold Inventory Inventory Accounts Payable Accounts Receivable Sales Revenue Cost of Goods Sold Inventory 1,742 1.742 1,742 1,742 Apr 23 1,690 1.690 1,690 1,690 Apr. 23 854 832 854 832 Print Done TRATIT TID TE TATTARTION