Cast Iron Grills, Inc, manufactures premium gas barbecue grills. The company uses a periodic inventory system and the LiFO cost method for its gril inventory Cast Iron's December 31, 2018, fiscal year-end inventory consisted of the following (listed in chronological order of acquisition) ts 6,280 4,609 7,700 5 380 39 500 The replacement cost of the grils throughout 2019 wos $600 Cost Iron soid 33,000 grills during 2019 The company's selling price is set et 200% of the current replacement cost Required 1. & 2. Compute the gross profit esales minus cost of goods sod) and the gross pro?ratio for 2019 under Modifferent assumptions First tht Cast iron purchesed 34,000 units and, second that Cast tron purchosed 18.000 units during the year 4.Compute the gross profa (sales minus cost of goods soldy and the gross proft ratio for 2019 assuming thet Cast Iron purchased s 4 000 units (as per the first ossumption) and 18,000 unts (os per the second ossumption) duning the year and uses the FiFO inventory cost method rathe than the LIFO method Complete this question by entering your answers in the tabs below Req 1 and 2Reg 4 hist, that Cat tron porch Med 34 000 unts and, second, that Cast trur purchased 16,000 urms duong the yur inund Picft Rans