Nathan's Grills, Inc., imports and sells premium-quality gas grills. The company had the following layers in its LIFO inventory at January 1, 2014, at which time the replacement cost of the inventory was $900 per unit. Year LIFO Layer Added Units Unit Cost 2011 100 $600 2012 50 700 2013 30 800 The replacement cost of grills remained constant throughout 2014. Nathan's sold 200 units during 2014. The company established the selling price of each unit by doubling its replacement cost at the time of sale. Calculate gross margin percentage assuming 1) purchases of 220 in 2014 and 2) purchases of 100 in 2014. Nathan's uses a periodic inventory system. 18 points) Nathan's Grills, Inc., imports and sells premium-quality gas grills. The company had the following layers in its LIFO inventory at January 1, 2014, at which time the replacement cost of the inventory was $900 per unit. Year LIFO Layer Added Units Unit Cost 2011 100 $600 2012 50 700 2013 30 800 The replacement cost of grills remained constant throughout 2014. Nathan's sold 200 units during 2014. The company established the selling price of each unit by doubling its replacement cost at the time of sale. Calculate gross margin percentage assuming 1) purchases of 220 in 2014 and 2) purchases of 100 in 2014. Nathan's uses a periodic inventory system. 18 points)