Cansela Corporation reports inventory and cost of goods sold based on calculations from a LIFO periodic inventory system. The

company began $2024$ with inventory of $7,600$ units of its only product. The beginning inventory balance of $$107,200$ consisted of the

following layers:

During the three years $2024-2026,$ the cost of inventory remained constant at $$18$ per unit. Unit purchases and sales during these

years were as follows:

Required:

Calculate cost of goods sold for $2024,2025,$ and $2026.$

Disregarding income tax, determine the LIFO liquidation profit or loss, if any, for each of the three years.

Determine the effects of LIFO liquidation on cost of goods sold and net income for $2024,2025,$ and $2026.$ Cansela's effective

income tax rate is $25\%.$

Complete this question by entering your answers in the tabs below.

Calculate cost of goods sold for $2024,2025,$ and $2026.$Calculate cost of goods sold for $2024,2025,$ and $2026.$

Disregarding income tax, determine the LIFO liquidation profit or loss, if any, for each of $t$

Determine the effects of LIFO liquidation on cost of goods sold and net income for $2024,$

Cansela's effective income tax rate is $25\%.$

Complete this question by entering your answers in the tabs below.

Determine the effects of LIFO liquidation on cost of goods sold and net income for $2024,2025,$ anc

income tax rate is $25\%.$Cansela Corporation reports inventory and cost of goods sold based on calculations from a LIFO periodic inventory system. The

company began $2024$ with inventory of $7,600$ units of its only product. The beginning inventory balance of $$107,200$ consisted of the

following layers:

$3,600$ units $at$ $$12$ per unit

$4,000$ units $at$ $$16$ per unit

Beginning inventory

During the three years $2024-2026,$ the cost of inventory remained constant at $$18$ per unit. Unit purchases and sales during these

years were as follows:

Required:

Calculate cost of goods sold for $2024,2025,$ and $2026.$

Disregarding income tax, determine the LIFO liquidation profit or loss, if any, for each of the three years.

Determine the effects of LIFO liquidation on cost of goods sold and net income for $2024,2025,$ and $2026.$ Cansela's effective

income tax rate is $25\%.$

Complete this question by entering your answers in the tabs below.

Calculate cost of goods sold for $2024,2025,$ and $2026.$