Pina Outdoor Stores Inc; uses a perpetual inventory system and has a beginning inventory, as at April 1, of 149 tents. This consists of 50 tents purchased in February at a cost of $207 each and 99 tents purchased in March at a cost of $221 each. During Aprit. the company had the following purchases and sales of tents: Calculate Pina Outdoors's gross profit and gross profit margin for the month of April. (Round gross profit margin to 1 decimal place, e.g. 1.2 and gross profit to the nearest whole dollar, es. 5, 275.) Gross profit 5 Gross profit margin 76 Is the gross profit determined in part (b) higher or lower than it would be if Pina Outdoors had used the average cost formula? The gross profit is than if the average cost formula had been used in a perpetual inventory system because cost of y Is the gross proft determined in gart (b) higher or lower than it would be if Pina Outdoors had used the average cout formuta? irpetual inventory system because cont of goods sold is under FiFO in a period of. pricet than if would Is the gross profit determined in part (b) higher or lower than it would be if Pina Outdoors had used the awerage cost formula? usint the awerage cost formula. Under FIFO, ending inventory is cost of goods sold is and gross proht 2