Esquire Incorporated uses the LIFO method to report its inventory. Inventory at the beginning of the year was $950,000 (38,000 units at $25 each). During the year, 116,000 units were purchased, all at the same price of $30 per unit. 120,000 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. Cost of Goods Available for Sale Cost of Goods Sold - Periodic LIFO Ending Inventory - Periodic LIFO Number of Cost Cost of Goods Number of units Cost Cost of Goods Number of units in Cost Ending units per Available for Sale sold per Sold per unit unit ending inventory unit Inventory Beginning Inventory 38,000 $ 25 $ 950,000 $ 25 $ O $ 25 $ 0 Purchases 116,000 30 3,480,000 $ 30 O $ 30 0 Total 154,000 $ 4,430,000 0 $ O 0 $ 0