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

Esquire Incorporated uses the LIFO method to report its inventory. Inventory at the beginning of the year was $484,000(22,000 units at $22 each). During the year, 84,000 units were purchased, all at the same price of $24 per unit. 87,000 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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