Help Save Cast Iron Grills, Inc., manufactures premium gas barbecue grills. The company reports inventory and cost of goods sold based on calculations from a LIFO periodic inventory system. Cast Iron's December 31, 2021, fiscal year-end inventory consisted of the following (listed in chronological order of acquisition: Unit 7.800 5.400 8.800 Unit Coat 5900 1,000 1,100 The replacement cost of the grills throughout 2022 was $1.200. Cost Iron sold 41,000 grilis during 2022. The company's selling prices set at 200% of the current replacement cost. Required: 1. & 2. Compute the gross profit (sales minus cost of goods sold) and the gross profit ratio for 2022 under two different assumptions First, that Cast Iron purchased 42,000 units and second, that Cast Iron purchased 22,000 units during the year 4. Compute the gross profit (sales minus cost of goods sold) and the gross profit ratio for 2022 assuming that Cast iron purchased 42.000 units las per the first assumption) and 22,000 units (as per the second assumption) during the year and uses the FIFO inventory cost method rather than the LIFO method Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg4 Compute the gross profit (sales minus cost of goods sold) and the gross profit ratio for 2022 under two different assumptions First, that Cast Iron purchased 42,000 units and, second, that Cast Iron purchased 22,000 units during the year. (Round "Gross proht ratio answer to 1 decimal place (ie, 0.123 needs to be entered as 12.3%)) Grass Profit Gross Profit Ratio Purchased Units 42.000 22.000 Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 4 Compute the gross profit (sales minus cost of goods sold) and the gross profit ratio for 2022 assuming that Cast Iron purchased 42,000 units (as per the first assumption) and 22.000 units (as per the second assumption) during the year and uses the FIFO inventory cost method rather than the LIFO method. (Round "Gross profit ratio answer to 1 decimal placere, 0.123 needs to be entered as 12.3%.)) Show less Gross Profit Purchased Units 42,000 22.000 Gross Profit Ratio 5. %