Need Help with the blanks

In 2022, Standard Company experienced a major casualty loss. The roof of its warehouse collapsed in an ice storm and destroyed its entire inventory. The company began the year with inventory of $1,100. It made purchases of $7,500 but returned $50 worth of merchandise. Sales prior to the ice storm were $12,500. Standard must use the gross profit method to determine inventory on hand on the date of the casualty. The following is an excerpt of its income statement for the last three years. (Click the icon to view the data.) Read the requirements. Requirement a. Assume that Standard uses the most recent three years of net sales and cost of goods sold to determine its historical gross profit. What are estimated cost of goods sold, estimated gross profit, and estimated ending inventory? Calculate Standard's estimated cost of goods sold for 2022. (Round any interim percentage calculations to one decimal place, X.X%. Round the final estimated cost of goods sold amount that you enter into the table below to the nearest whole dollar.) Estimated cost of goods sold Calculate Standard's estimated gross profit for the current year. (Round any interim calculations and the final estimated gross profit amount that you enter into the table below to the nearest whole dollar.) Estimated gross profit Calculate Standard's estimated ending inventory. (Round any interim calculations and the final estimated ending inventory amount that you enter into the table below to the nearest whole dollar.) Estimated ending inventory Requirement b. Assume that Standard uses the most recent two years of net sales and cost of goods sold to determine its historical gross profit. What are estimated cost of goods sold, estimated gross profit, and estimated ending inventory?. Calculate Standard's estimated cost of goods sold for 2022 assuming the most recent two years of net sales and cost of goods sold to determine its historical gross profit. (Round any interim percentage calculations to one decimal place, X.X%. Round the final estimated cost of goods sold amount that you enter into the table below to the nearest whole dollar.) Estimated cost of goods sold Calculate Standard's estimated gross profit for the current year. (Round any interim calculations and the final estimated gross profit amount that you enter into the table below to the nearest whole dollar.) Estimated gross profit Calculate Standard's estimated ending inventory. (Round any interim calculations and the final estimated ending inventory amount that you enter into the table below to the nearest whole dollar.) Estimated ending inventory Requirement c. Comment on the differences in estimated cost of goods sold, estimated gross profit, and estimated ending inventory from parts (a) and (b). V than the three-year gross profit percentage. This difference leads to a V cost of goods sold, The two-year gross profit percentage is Data table Net Sales Cost of Goods Sold gross profit and 2019 ending inventory when the two-year estimation is used. General and Administrative Expense Depreciation Expense Operating Income print 5,000 $ 2,350 500 225 1,925 $ Done 2020 7,000 $ 2,702 700 300 3,298 $ 2021 12,000 4,272 1 ,200 400 6,128