Esquire Inc. uses the LIFO method to report its inventory. Inventory at January 1, 2021, was $780,000 (39,000 units at $20 each). During 2021, 118,000 units were purchased, all at the same price of $29 per unit. 121,000 units were sold during 2021. Calculate the December 31, 2021, ending Inventory and cost of goods sold for 2021 based on a periodic inventory system. Cost of Goods Available for Sale Cost # of units per Cost of Goods unit Available COGS - Periodic LIFO Cost # of units sold par Cost of Goods Sold Ending Inventory - Periodic LIFO Cost #of units in ending Ending per inventory Inventory unit Beginning Inventory Purchases Total 2021, Videotech Corporation (VTC) purchased 10 units of a new satellite uplink system from Tristar Communications for $26,000 each. The terms of each sale were 2/10, n/30. VTC uses the net method to account for purchase discounts and a perpetual inventory system. VTC paid the net-of-discount amount on January 6, 2022. Prepare the necessary journal entries assuming that VTC uses the net method to account for purchase discounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)