Esquire Incorporated uses the LIFO method to report its inventory. Inventory at the beginning of the year was $600,000 (30,000 units at $20 each). During the year, 100,000 units were purchased, all at the same price of $24 per unit. 110,000 units were sold during the year. Calculate ending inventory and cost of goods sold at the end of the year based on a periodic inventory system.