Taylor Corporation reports Inventory and cost of goods sold based on calculations from a LIFO periodic Inventory system. The company's records under this system reveal the following inventory layers at the beginning of 2021 (listed in chronological order of acquisition: 15,000 units $10 20,000 units $15 Beginning inventory $150,000 300,000 $450,000 During 2021, 40,000 units were purchased for $20 per unit. Due to unexpected demand for the company's product, 2021 sales totaled 49,000 units at various prices, leaving 26,000 units in ending Inventory. Required: 1. Calculate the amount to report for cost of goods sold for 2021. 2. Determine the amount of UFO liquidation profit that the company must report in a disclosure note to its 2021 financial statements. Assume an income tax rate of 25% 3. If the company decided to purchase an additional 9,000 units at $20 per unit at the end of the year, how much income tax currently payable would be saved? 1. Cost of goods sold 2. LIFO liquidation profit 3. Income tax payable