Esquire Inc. uses the LIFO method to report its inventory. Inventory at January 1, 2021, was $768,000 (32,000 units at $24 each). During 2021, 104,000 units were purchased, all at the same price of $27 per unit. 112,000 units were sold during 2021. 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? ed LIFO liquidation profit (loss) $ Explanation Units liquidated Difference in cost ($27 - 24) Before-tax LIFO liquidation profit Tax effect ($24,000 x 25%) LIFO liquidation profit 8,000 X $3 $24,000 (6,000) $18,000