LIFO Liquidation Company X has the following inventory layers (listed in chronological order of acquisition): . (old)5,000 units @ $10 per unit $50,000 (new)8,000 units @ $12 per unit 96.000 Beginning inventory $146.000 During 2021, 20,000 units were purchased for $15 per unit. Sales for the year totaled 30,000 units at various prices, leaving 3,000 units in ending inventory. Calculate cost of goods sold for 2021. Determine the amount of LIFO liquidation profit that the company must report in a disclosure note to its 2021 financial statements, assuming the amount is material. Assume an income tax rate of 25%