Soft Touch Company sells leather furniture. The following schedule relates to the company's inventory for the month of April: Cost Sales April 1 Beginning inventory 75 units $45,450 Purchase 52 units 32,916 5 Sale 30 units $34,590 11 Purchase 28 units 18,088 15 Sale 54 units 68,526 22 Sale 43 units 49,708 28 Purchase 45 units 30,510 Soft Touch uses the periodic inventory system. Calculate Soft Touch Company's cost of goods sold, gross margin, and ending inventory using: i. FIFO ii. Weighted average (Round calculations for cost per unit to 2 decimal places, e.g. 10.52. Round answers under weighted-average to 2 decimal places, e.g. 61,052.79.) Cost of Goods Sold Gross Margin Ending Inventory 61,052.79.) Cost of Goods Sold Gross Margin Ending Inventory $ $ $ i. FIFO $ $ $ ii. Weighted average e Textbook and Media Which cost formula produced the higher gross margin ratio? (Round answers to 2 decimal places, eg. 61.05%.) Gross Margin Ratio % FIFO % Weighted average produces the higher gross margin ratio