Esquire Inc. uses the LIFO method to report its inventory. Inventory at January 1, 2021, was $792,000 (36,000 units at $22 each). During 2021, 112,000 units were purchased, all at the same price of $30 per unit. 116,000 units were sold during 2021. Calculate the December 31, 2021, ending inventory and cost of goods sold for 2021 based on a periodic inventory system.

Esquire Inc. uses the LIFO method to report its inventory. Inventory at January 1,2021 , was $792,000 (36,000 units at $22 each). During 2021, 112,000 units were purchased, all at the same price of $30 per unit. 116,000 units were sold during 2021. Calculate the December 31,2021 , ending inventory and cost of goods sold for 2021 based on a periodic inventory system