Esquire Inc. uses the LIFO method to report its inventory. Inventory at January 1, 2021, was $500,000 (20,000 units at $25 each). During 2021,80,000 units were purchased, all at the same price of $30 per unit. 85,000 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. Cost of Goods Available for Sale Cost Cost of Goods # of units per Available unit COGS - Periodic LIFO Cost # of units Cost of Goods per sold Sold unit Ending Inventory # of units in ending inventory Beginning Inventory 20,000 $ 25$ 500,000 $ 25 S 0 30 Purchases Total 80.000 100,000 2,400,000 2,900,000 80,000 $ 30 80,000 $ 2.400,000 2,400,000 $