Example 3: LIFO Liquidation ContinuedThe Reuschel Company began 2011 with inventory of 10,000 units at a cost of $7 per unit. During 2011, 50,000units were purchased for $8.50 each. Sales for the year totaled 54,000 units leaving 6,000units on hand at the end of 2011. Reuschel uses a periodic inventory system and the LIFO inventory cost method. Calculate cost of goods sold for 2011.Cost of goods sold:Units10,00050,00060,0006,00054,000Dollars70,000425,000495,000??