Hazelton Corporation - periodic inventory system

Hazelton Corporation uses a periodic inventory system and the LIFO method to value its inventory. The company began 2021 with $107,100 in inventory of its only product. The beginning inventory consisted of the following layers: 5,700 units at $7 per unit 5 39,900 8,400 units at $8 per unit 67,200 During 2021, 7,700 units were purchased at $9 per unit and during 2022,10,400 units were purchased at $10 per unit. Sales, in units, were 10,400 and 18,800 during 2021 and 2022, respectively. Required: 1. Calculate cost of goods sold for 2021 and 2022. 2. Disregarding income tax, determine the LIFO liquidation prot or loss, if any, for 2021 and 2022. Complete this question by entering your answers in the tabs below. ReqUirEd 1 Calculate cost of goods sold for 2021 and 2022. m - Required 2 >