Hazelton Corporation uses a periodic inventory system and the LIFO method to value its inventory. The company began 2021 with $65,000 in inventory of its only product. The beginning inventory consisted of the following layers: 4,300 units at $6 per unit $ 25,800 5,600 units at $7 per unit 39,200 Total $ 65,000 During 2021, 6,300 units were purchased at $8 per unit and during 2022, 7,600 units were purchased at $9 per unit. Sales, in units, were 7,600 and 13,200 during 2021 and 2022, respectively. Required: 1. Calculate cost of goods sold for 2021 and 2022. 2. Disregarding income tax, determine the LIFO liquidation profit or loss, if any, for 2021 and 2022.