Question: Esquire Incorporated uses the LIFO method to report its inventory. Inventory at the beginning of the year was $ 6 0 0 , 0 0

Esquire Incorporated uses the LIFO method to report its inventory. Inventory at the beginning of the year was $600,000(24,000 units at $25 each). During the year, 88,000 units were purchased, all at the same price of $30 per unit. 89,000 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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