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 78 units $47,190 3 Purchase 52 units 33,020 5 Sale 26 units $29,094 11 Purchase 24 units 15,792 15 Sale 57 units 71,364 22 Sale 47 units 54,285 28 Purchase 52 units 34,840 Soft Touch uses the perpetual 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 and final answers to O decimal places, e.g. 61,052.) i. FIFO ii. Weighted-average 6A $ CA Cost of Goods Sold LA LA Gross Margin Ending Inventory $ +A $ Which cost formula produced the higher gross margin? (Round answers to 2 decimal places, e.g. 61.05%.) FIFO Weighted-average Gross Margin Ratio % % produces the higher gross margin ratio