Taylor Corporation has used a periodic inventory system and the LIFO cost method since its inception in 2006. The company begins 2013 with the following layers (listed in chronological order of acquisition): 10,000 units @ $15 $150,000 15,000 units @ $20 300,000 Beginning inventory $450,000 During 2013, 30,000 units were purchased for $25 per unit. Due to unexpected demand for the companys product, 2013 sales total 40,000units at various prices, leaving 15,000 units in ending inventory. Required: 1. Calculate cost of goods sold for 2013. 2. Determine the amount of LIFO liquidation profit that the company must report in a disclosure note to its 2013 financial statements. Assume an income tax rate of 40%. 3. If the company decided to purchase an additional 10,000 units at $25 per unit at the end of the year, how much income tax currently payable would be saved