Carla Vista Company sells leather saddles and equipment for horse enthusiasts. Carla Vista uses the periodic inventory system. The following schedule relates to the company's inventory for the month of May: Calculate Carla Vista Company's gross margin ratio using: (Round answers to 2 decimal places, e.8. 61.05\%.) i. FIFO ii. Weighted-average Which cost formula produced the higher gross margin? produces the higher gross margin ratio