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) 14,588 units $15 19,500 units @ $20 Beginning inventory $ 217,500 390,00 $ 607,500 During 2021, 39,000 units were purchased for $25 per unit. Due to unexpected demand for the company's product, 2021 sales totaled 48.000 units at various prices, leaving 25,000 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 $25 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