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 72 units $ 43,056 3 Purchase 53 units 33,125 5 Sale 31 units $ 33,108 11 Purchase 25 units 16,475 15 Sale 51 units 66,861 22 Sale 43 units 52,202 28 Purchase 50 units 34,200 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 $ 76181 $ 75990 ta 50675 i. FIFO $ 78650.72 $ ta 73520.28 $ 48205.28 ii. Weighted-average e Textbook and Media Which cost formula produced the higher gross margin ratio? (Round answers to 2 decimal places, e.g. 61.05%.) Gross Margin Ratio % FIFO % Weighted-average FIFO v produces the higher gross margin ratio. e Textbook and Media