Computing and Analyzing a LIFO Liquidation Chide's storage facility was shut down due to a strike in December 2020, resulting in a drastic reduction in inventory. The company had switched to LIFO effective January 1, 2020. The following data are available. Chide is on a calendar-year reporting basis. Beginning inventory Base layer of UFO-January 1) 40.000 Units Unit Cost $1.00 Inventory purchases during 2020 900,000 $1.25 Total available for sale Sales teated on a LIFO basis) from Punches Daseinvernary laye 940,000 900,000 $1.25 20,000 $1.00 020.000 Luding inventory (December 31, 202 20.000 What is the LIFO liquidation aher tax profit or loss assuming a 25% tax rate Note: indicate a loss with a negative sign