Calculate Carla Vista Company's gross margin ratio using: $($Round answers to $2$ decimal places, e$.$g$.61\mathrm{.}05\%.)$

i$.$ FIFO

ii$.$ Weighted$-$average

Which cost formula produced the higher gross margin?

produces the higher gross margin.Current Attempt in Progress

Carla Vista Company sells leather saddles and equipment for horse enthusiasts. Carla Vista uses the perpetual inventory system. The

following schedule relates to the company's inventory for the month of May: