The Reuschel Company began 2013 with inventory of 27,000 units at a cost of $6 per unit. During 2013, 67,000 units were purchased for $7.60 each. Sales for the year totaled 79,500 units leaving 14,500 units on hand at the end of 2013. Reuschel uses a periodic inventory system and the LIFO inventory cost method. 1. Calculate cost of goods sold for 2013. 2. Calculate the effect of the LIFO on the income.