Saved Exercise 8-19 LIFO liquidation [LO8-1, 8-4, 8-6] The Reuschel Company began 2018 with inventory of 22,000 units at a cost of $9 per unit. During 2018, 62,000 units were purchased for $10,15 each. Sales for the year totaled 72,000 units leaving 12,000 units on hand at the end of 2018. Reuschel uses a periodic inventory system and the LIFO inventory cost method Required: 1. Calculate cost of goods sold for 2018. 2. Calculate the effect of the LIFO on the income. Complete this question by entering your answers in the tabs below. Required 2 Required 1 Calculate cost of goods sold for 2018. Cost of goods sold Required 2 Next > 10 of 15 Prev