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 $46,332 3 Purchase 48 units 29,808 5 Sale 33 units $37,125 11 Purchase 24 units 15,432 15 Sale 50 units 61,200 22 Sale 43 units 50,611 28 Purchase 50 units 34,300 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.) i. FIFO Ending Inventory Cost of Goods Sold Gross Margin $ $ $ $ ii. Weighted-average eTextbook 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 % % produces the higher gross margin ratio.