The Reuschel Company began 2018 with inventory of 19,000 units at a cost of $6 per unit. During 2018, 59,000 units were purchased for $7.20 each. Sales for the year totaled 67,500 units leaving 10,500 units on hand at the end of 2018. Reuschel uses a periodic inventory system and the LIFO inventory cost method. Required: 1. Calculate cost of goods sold for 2018. 2. Calculate the effect of the LIFO on the income. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate cost of goods sold for 2018. Cost of goods sold Required 1 Required 2 > The Reuschel Company began 2018 with inventory of 19,000 units at a cost of $6 per unit. During 2018, 59,000 units were purchased for $7.20 each. Sales for the year totaled 67,500 units leaving 10,500 units on hand at the end of 2018. Reuschel uses a periodic inventory system and the LIFO inventory cost method. Required: 1. Calculate cost of goods sold for 2018. 2. Calculate the effect of the LIFO on the income. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the effect of the LIFO on the income. The effect of the LIFO layer liquidation is to income by Required 1 Required 2