Cansela Corporation reports inventory and cost of goods sold based on calculations from a LIFO periodic inventory system. The company began 2021 with inventory of 4,500 units of its only product. The beginning inventory balance of $64,000 consisted of the following layers: 2,000 units at $12 per unit 2,500 units at $16 per unit Beginning inventory $ 24,000 40,000 $ 64,000 During the three years 2021-2023 the cost of inventory remained constant at $18 per unit. Unit purchases and sales during these years were as follows: Purchases Sales 2021 10,000 11,000 2022 13,000 14,500 2023 12,000 13,000 Required: 1. Calculate cost of goods sold for 2021, 2022, and 2023. 2. Disregarding income tax, determine the LIFO liquidation profit or loss, if any, for each of the three years. 3. Determine the effects of LIFO liquidation on cost of goods sold and net income for 2021, 2022, and 2023. Cansela's effective income tax rate is 25%