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 7,200 units of its only product. The beginning inventory balance of $116,800 consisted of the following layers: 3,200 units at $14 per unit 4,000 units at $18 per unit Beginning inventory = $ 44,800 72,000 $116,800 During the three years 2021-2023 the cost of inventory remained constant at $20 per unit. Unit purchases and sales during these years were as follows: 2021 2022 2023 Purchases 28,000 37,000 30,000 Sales 29,000 40,000 31,500 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%. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate cost of goods sold for 2021, 2022, and 2023. Cost of Goods Sold 2021 2022 2023 Required 1 Required 2 >