The following accounting information pertains to Boardwalk Taffy 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 $ 80,000 $ 80,000 Accounts receivable 300,000 300,000 Merchandise inventory 235,000 206,000 Accounts payable 235,000 235,000 Cost of goods sold 1,034,000 1,339,000 Building 400,000 400,000 Sales 1,800,000 1,800,000 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. Required A1 Required A2 Required B1 Required B2 Compute the gross margin percentage for each company. (Round your answers to 1 decimal place.) Gross Margin Boardwalk Taffy % Beach Sweets % Required A1 Required 12 Required B1 Required B2 Identify the company that appears to be charging the higher prices in relation to its cost Higher prices es Required A1 Required A2 Realired 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.) Inventory Turnover Ratios Average Days Boardwalk Toffy days days times times Beach Sweets Required A1 Required A2 Required B1 Required B2 Identify the company that appears to be incurring the higher financing cost. Higher financing cost