Brief Exercise $8-14($Algo$)$ LIFO method $[$LO$8-4]$

Esquire Incorporated uses the LIFO method to report its inventory. Inventory at the beginning of the year was $$682,000(31,000$ units at $$22$ each$).$ During the year, $102,000$ units were purchased, all at the same price of $$26$ per unit. $111,000$ units were sold during the year.

Calculate ending inventory and cost of goods sold at the end of the year based on a periodic inventory system.

$\backslash$table$[[,$Cost of Goods Available for Sale,Cost of Goods Sold $-$ Periodic LIFO,Ending Inventory $-$ Periodic LIFO$],[,\backslash$table$[[$Number of$],[$units$]],\backslash$table$[[$Cost$],[$per$],[$unit$]],\backslash$table$[[$Cost of Goods$],[$Available for Sale$]],\backslash$table$[[$Number of units$],[$sold$]],\backslash$table$[[$Cost$],[$per$],[$unit$]],\backslash$table$[[$Cost of Goods$],[$Sold$]],\backslash$table$[[$Number of units in$],[$ending inventory$]],\backslash$table$[[$Cost$],[$per$],[$unit$]],\backslash$table$[[$Ending$],[$Inventory$]]],[$Beginning Inventory,$31,000,$$$22,682,000,,$$$22,,,$$$22,],[$Purchases$,102,000,26,2,652,000,,$$$26,,,$$$26,],[$Total$,133,000,,3,334,000,,,,,,]]$