Stuf Inc. is a hypothetical firm that sells a product that is used in gum so that the gum will not stick to the ground. Stuf starts the year 2020 with $40,000 of inventories, consisting of 1,000 units. It purchases 2,000 units for $50 per unit during 2020. During 2020 it sells 2,400 units. Stuf uses LIFO to account for its inventories. Calculate the cost of goods sold and final inventory for Stuf for 2020