The Reuschel Company began 2021 with inventory of 21,000 units at a cost of $8 per unit. During 2021, 61,000 units were purchased for $9.95 each. Sales for the year totaled 70,500 units leaving 11.500 units on hand at the end of 2021. Reuschel uses a periodic inventory system and the LIFO inventory cost method. Required: 1. Calculate cost of goods sold for 2021 2. Calculate the effect of the use of LIFO on Income, Complete this question by entering your answers in the tabs below. Required: Required 2 Calculate cost of goods sold for 2021 Cost of goods sold Required 2 >