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A company reports inventory and cost of goods sold based on calculations from a LIFO periodic inventory system. The company's records under this system reveal the following inventory layers at the beginning of 2024 (ilisted in chronological order of acquisition): During 2024, 32,000 units were purchased for $30 per unit. Due to unexpected demand for the company's product, 2024 sales totaled 40,000 units at various prices, leaving 19,000 units in ending inventory. Required: 1. Calculate the amount to report for cost of goods sold for 2024 . 2. Determine the amount of LIFO liquidation proft that the company must report in a disclosure note to its 2024 financial statements. Assume an income tax rate of 25%. 3. If the company decided to purchase an additional 8,000 units at $30 per unit at the end of the year, how much income tax currently payable would be saved