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The MegaMart Company began 2024 with inventory of 22,000 units at a cost of $9 per unit. During 2024, 62,000 units were purchased for $10.15

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The MegaMart Company began 2024 with inventory of 22,000 units at a cost of $9 per unit. During 2024, 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 2024 . MegaMart uses a periodic inventory system and the LIFO inventory cost method. Required: 1. Calculate cost of goods sold for 2024 . 2. Calculate the effect of the use of LIFO on Incory.e. Complete this question by entering your answers in the tabs below. Calculate cost of goods soid for 2024

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