Current Attempt in Progress Swifty Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 150 tents. This consists of 52 tents purchased in February at a cost of $206 each and 98 tents purchased in March at a cost of $226 each. During April, the company had the following purchases and sales of tents: Purchases Units Unit Cost Units Date Apr. 3 10 Sales Unit Price $398 73 195 $277 249 398 17 24 303 294 30 191 398 Is the gross profit determined in part (b) higher or lower than it would be if Swifty Outdoors had used the average cost formula? fross profit is than if the average cost formula had been used in a perpetual inventory system because cost of gou e Textbook and Media Save for later Attempts: 0 of 3 used Submit Answer Using multiple attempts will impact your score. 5% score reduction after attempt 1 Current Attempt in Progress Swifty Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 150 tents. This consists of 52 tents purchased in February at a cost of $206 each and 98 tents purchased in March at a cost of $226 each. During April, the company had the following purchases and sales of tents: Purchases Units Unit Cost Units Date Apr. 3 10 Sales Unit Price $398 73 195 $277 249 398 17 24 303 294 30 191 398 Is the gross profit determined in part (b) higher or lower than it would be if Swifty Outdoors had used the average cost formula? fross profit is than if the average cost formula had been used in a perpetual inventory system because cost of gou e Textbook and Media Save for later Attempts: 0 of 3 used Submit Answer Using multiple attempts will impact your score. 5% score reduction after attempt 1