Bettencourt Clothing Corporation uses a periodic inventory system and the LIFO cost method. The company began 2018 with the following inventory layers (listed in chronological order of acquisition): 5,000 units @ $10 $50,000 8,000 units @ $12 96,000 Beginning inventory $146,000 During 2018, 20,000 units were purchased for $15 per unit. Sales for the year totaled 30,000 units at various prices, leaving 3,000 units in ending inventory. Question 27 3 pts Using the above information, cost of goods sold for 2018 is: $446,000 $426,000 $416,000 $410,000 Using the above information, the after-tax amount of LIFO liquidation profit that the company must report in a disclosure note to its 2018 financial statements, assuming the amount is material (and assuming an income tax rate of 40%) is: $20,400 $13,600 $24,000 $34,000