Hazzee Corporation uses a periodic inventory system and the LIFO method to value its inventory. The beginning inventory of 2021 consisted of the following layers: (OLD)4,000 units at $6 per unit 824,000 (NEW)5,000 units at $7 per unit" 35,000 39,000 48,000 During 2021, 6,000 units were purchased at $8 per unit. During 2022.7,000 units were purchased at $9 per unit. Sales, in units, were 7.000 and 12,000 during 2021 and 2022, respectively. Assume 30% tax rate, determine the after-tax LIFO liquidation profit (or loss) for 2022 $11.000 profit $700 loss $7.700 profit $700 profit