Question: Esquire Inc. uses the LIFO method to report its inventory, Inventory at January 1, 2021, was $500,000 120,000 units at $25 each During 2021, 80,000

Esquire Inc. uses the LIFO method to report its inventory, Inventory at January 1, 2021, was $500,000 120,000 units at $25 each During 2021, 80,000 units were purchased, all at the same price of $30 per unit. 85,000 units were sold during 2021. Assuming an income tax rate of 25%, what is LIFO liquidation profit or loss that the company would report in a disclosure note accompanying its financial statements? LIFO liquidation profit (loss)

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