Bettencourt Clothing Corporation uses a periodic inventory system and the LIFO cost method. The company began $2024$ with the following inventory layers $($listed in chronological order of acquisition$)$:

$5,700$ units @ $$11$ per unit $ $62,700$

$8,700$ units @ $$13$ per unit $113,100$

Beginning inventory $ $175,800$

During $2024,20,700$ units were purchased for $$16$ per unit. Sales for the year totaled $31,400$ units at various prices, leaving $3,700$ units in ending inventory.

Required:

Calculate cost of goods sold for $2024.$

Determine the amount of LIFO liquidation profit that the company must report in a disclosure note to its $2024$ financial statements, assuming the amount is material. Assume an income tax rate of $25\%.$