Hazelton Corporation uses a periodic inventory system and the LIFO method to value its inventory. The company began 2018 with $65,000 in inventory of its only product. The beginning inventory consisted of the following layers 4,300 units at 56 per unit 5,600 units at $7 per unit Total $25,800 39.200 $65.00 During 2018, 6,300 units were purchased at $8 per unit and during 2019, 7600 units were purchased at $9 per unit. Sales, in units, were 7600 and 13,200 during 2018 and 2019, respectively Required: 1. Calculate cost of goods sold for 2018 and 2019. 2. Disregarding income tax, determine the LIFO liquidation profit or loss, if any, for 2018 and 2019 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate cost of goods sold for 2018 and 2019