Exercise $8-23($Algo$)$ LIFO liquidation $[$LO$8-4,8-6]$

The Churchill Corporation uses a periodic inventory system and the LIFO inventory cost method for its one product. Beginning inventory of $21,600$ units consisted of the following, listed in chronological order of acquisition:

$12,800$ units at a cost of $$8\mathrm{.}00$ per unit $=$$$102,400$

$8,800$ units at a cost of $$9\mathrm{.}00$ per unit $=79,200$

During $2024,$ inventory quantity declined by $11,600$ units. All units purchased during $2024$ cost $$12\mathrm{.}00$ per unit.

Required:

Calculate the before$-$tax LIFO liquidation profit or loss that the company would report in a disclosure note, assuming the amount determined is material: