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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 units 7,800 5.400 3,800 Unit Cost $ 900 1,000 1.100 The replacement cost of the grills throughout 2022 was $1.200 Cast Iron sold 41000 grills during 2022 The company's selling price is set at 200% of the current replacement cost Required: 1. & 2. Compute the gross profit (sales minus cost of goods solch) and the gross proftratio 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 (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 Complete this question by entering your answers in the tabs below. Hea 1 and 2 Reg 4 Compute the gross prot (sales minus cost of goods sold) and the gross pront ratio for 2022 under two different mesumptions First, that Cast Iron purchased 42.000 units and, second, that Cast Iron purchased 22.000 units during the year. (Round "Gross profitto answer to 1 decimal place 0123 ned to be entered as 1211.) Purchased Unito Gross Profit Gross Protit Ratio 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 (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. 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 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 profit ratio answer to 1 decimal place (l.e., 0.123 needs to be entered as 12.3%) Purchased Units Gross Profit Gross Profit Ratio 42,000 22.000 % % Ren 1 and Reg 4 > 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 (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. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reqa 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 place (I.. 0.123 needs to be entered as 12.3%.)) Show less Purchased Units Gross Profit Gross Profit Ratio 42,000 22 000 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 (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. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reqa 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 place (I.. 0.123 needs to be entered as 12.3%.)) Show less Purchased Units Gross Profit Gross Profit Ratio 42,000 22 000