Use the following information for questions 62-64. A company had the following Inventory activity during May If the company uses a perpetual system and the FIFO cost formula, what is the gross margin on the May 5 sale closest to? $6, 100 $8, 100 $8, 200 $8, 550 If the company uses a perpetual system and the weighted-average cost formula, what is the gross margin on the May 5 sale closest to? $6, 100 $8, 100 $8, 190 $8, 550 If the company uses a perpetual system and the FIFO cost formula, what is the gross margin for the month closest to? $12, 100 $16, 200 $16, 300 $17, 100