Exercise $8-23($Algo$)$ LIFO liquidation $[$L$08-4,8-6]$

The Churchill Corporation uses a periodic inventory system and the LIFO inventory cost method for its one product. Beginning

inventory of $24,000$ units consisted of the following, listed in chronological order of acquisition:

$14,000$ units at a cost of $$9\mathrm{.}00$ per unit $=$$$126,000$

$10,000$ units at a cost of $$10\mathrm{.}00$ per unit $=100,000$

During $2024,$ inventory quantity declined by $14,000$ units. All units purchased during $2024$ cost $$13\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.

LIFO liquidation profit