Esquire Incorporated uses the LIFO method to report its inventory. Inventory at the beginning of the year was $420,000 (21,000 units at $20 each). During the year, 82,000 units were purchased, all at the same price of $23 per unit. 86,000 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. Beginning Inventory Purchases Total Cost of Goods Available for Sale Cost per unit $20 23 Number of units 21,000 82,000 103,000 Cost of Goods Available for Sale $ $ 420,000 1,886,000 2,306,000 Cost of Goods Sold - Periodic LIFO Cost per unit $ 20 $23 Number of units sold 0 Cost of Goods Sold $ $ 0 0 0 Ending Inver Number of units ending inventor

Esquire incorporated uses the LIFO method to report its inventory. Inventory at the beginning of the year was $420,000 (21,000 units at $20 each). During the year, 82,000 units were purchased, all at the same price of $23 per unit. 86,000 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