Question: Esquire Incorporated uses the LIFO method to report its inventory. Inventory at the beginning of the year was $572,000(26,000 units at $22 each). During the

Esquire Incorporated uses the LIFO method to report its inventory. Inventory

Esquire Incorporated uses the LIFO method to report its inventory. Inventory at the beginning of the year was $572,000(26,000 units at $22 each). During the year, 92,000 units were purchased, all at the same price of $26 per unit. 96,000 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

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