eBook Print o Videos Question 7 incorred Mark 0.00 out of 2.00 Flag question Computing and Analyzing a LIFO Liquidation Chide's storage facility was shut down due to a strike in December 2020, resulting in a drastic reduction in inventory. The company had switched to LIFO effective January 1, 2020. The following data are available. Chide is on a calendar-year reporting basis. Units Unit Cost Beginning inventory (Bace layer of UFO-January 1) 12.000 51.00 Inventory purchases during 2020 270.000 $1.25 Total available for sale 282.000 Sales (valued on a UFO basis) from Purchases 270.000 51.25 Base inventory layer 6,000 $1.00 Total 276.000 Ending inventory (December 31, 2020) 6,000 What is the LIFO liquidation after-tax profit or loss assuming a 25% tax rate? Note: Indicate a loss with a negative sign $ 156,375 X Check