Cost of goods sold, liquidation profit, income tax payable Accounting question:

Taylor Corporation reports inventory and cost of goods sold based on calculations from a LIFO periodic inventory system. The company's records under this system reveal the following inventory layers at the beginning of 2021 (listed in chronological order of acquisition): 1?,666 units @ $28 :3 348,866 22,666 units @ $25 558,866 Beginning inventory :3 398,866 During 2021, 44,000 units were purchased for $30 per unit. Due to unexpected demand for the company's product, 2021 sales totaled 54,000 units at various prices, leaving 29,000 units in ending inventory. Required: 1. Calculate the amount to report for cost of goods sold for 2021. 2. Determine the amount of LIFO liquidation profit that the company must report in a disclosure note to its 2021 nancial statements. Assume an income tax rate of 25%. 3. lfthe company decided to purchase an additional 10,000 units at $30 per unit at the end of the year, how much income tax currently Jayable would be saved? . Cost of goods sold 2. LIFO liquidation prot 3. Income tax payable