Exerclse $8-23($Static$)$ LIFO Ilquidation $[$LO$8-4,8-6]$

The Churchill Corporation uses a periodic inventory system and the LFO inventory cost method for its one product. Beginning inventory of $20,000$ units consisted of the following, listed in chronological order of acquisition:

$12,000$ units at a cost of $$8,00$ per unit $=$$$96,000$

$8,000$ units at a cost of $$9\mathrm{.}00$ per unit $=72,000$

During $2024,$ inventory quantity declined by $10,000$ units. All units purchased during $2024$ cost $$12\mathrm{.}00$ per unit.

Requlred:

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