ABC Company applies the LIFO method for inventory valuation. For the year ended December 31, 2023, they began with 800 units at $15 per unit. Additional purchases were made on February 1 (1,500 units at $17 per unit) and June 1 (2,000 units at $19 per unit). Sales for the year totaled 3,000 units, resulting in an ending inventory of 1,300 units.

• Calculate the cost of goods sold (COGS) using the LIFO method for ABC Company.
• Determine the value of ending inventory using the LIFO method.
• Discuss the tax implications of using LIFO for ABC Company.
• Analyze the financial statement impact of LIFO versus FIFO for ABC Company.