Question: Esquire Incorporated uses the LIFO method to report its inventory. Inventory at the beginning of the year was $ 6 4 8 , 0 0

Esquire Incorporated uses the LIFO method to report its inventory. Inventory at the beginning of the year was $648,000(27,000 units at $24 each). During the year, 94,000 units were purchased, all at the same price of $30 per unit. 97,000 units were sold during the year.
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?

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