Hazelton Corporation uses a periodic inventory system and the LIFO method to value its inventory. The company began 2021 with $84,100 in inventory of its only product. The beginning inventory consisted of the following layers:

4,700 units at $7 per unit	$	32,900
6,400 units at $8 per unit		51,200
Total	$	84,100

During 2021, 6,700 units were purchased at $9 per unit and during 2022, 8,400 units were purchased at $10 per unit. Sales, in units, were 8,400 and 14,800 during 2021 and 2022, respectively.

Required:

1. Calculate cost of goods sold for 2021 and 2022.

2. Disregarding income tax, determine the LIFO liquidation profit or loss, if any, for 2021 and 2022.