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Hazelton Corporation uses a periodic inventory system and the LIFO method to value its inventory. The company began 2024 with $70,300 in inventory of its only product. The beginning inventory consisted of the following layers: During 2024, 6,100 units were purchased at $9 per unit and during 2025, 7,200 units were purchased ot $10 per unit. Sales, in units. were 7,200 and 12,400 during 2024 and 2025 , respectively. Required: 1. Calculate cost of goods sold for 2024 and 2025. 2. Disregarding income tax, determine the LIFO liquidation profit or loss, if any, for 2024 and 2025