Cash Accounts receivable Merchandise inventory Accounts payable Cost of goods sold Building Sales Boardwalk Taffy $120,000 480,000 350,000 360,000 2,000,000 500,000 3,000,000 Beach Sweets $120,000 480,000 300,000 360,000 2,050,000 500,000 3,000,000 Required a-1. Compute the gross margin percentage for each company. a-2. Identify the company that appears to be charging the higher prices in relation to its cost. b-1. For each company, compute the inventory turnover ratio and the average days to sell inventory. b-2. Identify the company that appears to be incurring the higher financing cost. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required Ai Required A2 Required B1 Required B2 Compute the gross margin percentage for each company. (Round your answers to 1 decimal place.) Boardwalk Taffy Beach Sweets Gross Margin 31.9 % 14.2 % Cash Accounts receivable Merchandise inventory Accounts payable Cost of goods sold Building Sales Boardwalk Taffy $120,000 480,000 350,000 360,000 2,000,000 500,000 3,000,000 Beach Sweets $120,000 480,000 300,000 360,000 2,050,000 500,000 3,000,000 Required a-1. Compute the gross margin percentage for each company. a-2. Identify the company that appears to be charging the higher prices in relation to its cost. b-1. For each company, compute the inventory turnover ratio and the average days to sell inventory. b-2. Identify the company that appears to be incurring the higher financing cost. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required B1 Required B2 For each company, compute the inventory turnover ratio and the average days to sell inventory. (Use 365 days in a year. Round your "inventory Turnover Ratios" to 1 decimal place and all other answers to the nearest whole number.) Inventory Average Days Boardwalk Taffy days 7.5 49 days Turnover Ratios 4.9 X times 74 Beach Sweets times