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The following accounting information pertains to Boardwalk Tafty and Beach Sweets. The only difference between the two companies is that Boardwalk Taffy uses FIFO, while Beach Sweets uses LIFO, Boardwalk Taffy Beach Sweets Cash $ 70,000 $ 70.000 Accounts receivable 330,000 330,000 Merchandise inventory 245,000 218,000 Accounts payable 215,000 215,000 Cost of goods sold 1,396,500 1,547,800 Building 450,000 450,000 Sales 2,000,000 2,000,000 Required 0-1. 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. Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required B1 Required B2 Compute the gross margin percentage for each company. (Round your answers to 1 decimal place.) Boardwalk Tatty Beach Sweets Gross Margin 95 % Required A2 > Cash Accounts receivable Merchandise inventory Accounts payable Cost of goods sold Building Sales Boardwalk Taffy $ 70,000 330,000 245,000 215,000 1,396,500 450,000 2,000,000 Beach Sweets $ 70,000 330,000 218,000 215,000 1,547,800 450,000 2,000,000 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. Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required B1 Required B2 Identify the company that appears to be charging the higher prices in relation to its cost. Higher prices 111 2,000,000 Required 0-1. 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 at Complete this question by entering your answers in the tabs below. rices Required Al 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) Boardwalk Taffy Beach Sweets Inventory Turnover Ratios times times Average Days days days OS Accounts receivable Merchandise inventory Accounts payable Cost of goods sold Building Sales 330,000 245,000 215,000 1,396,500 450,000 2,000,000 330,000 218,000 215,000 1,547,800 450,000 2,000,000 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. Complete this question by entering your answers in the tabs below. Required Al Required A2 Required B1 Required B2 Identify the company that appears to be incurring the higher financing cost. Higher financing cost