Computing and Disclosing a LIFO Liquidation inventory (January 1) made up of the following three layers. a. What is the effect of the LIFO liquidation on after-tax profit or loss assuming a 25% tax rate? \$ b. What disclosure is required based on the answer to part a? The LIFO liquidation of $ The effect of the LIFO liquidation is to which in turn, causes taxes to x must be disclosed in the notes to the financial statements. by $