Page 16 of 20 Question 16 (5 points) Miami Company uses a periodic inventory system and the LIFO method to value its inventory. Miami's beginning inventory consisted of the following layers which are listed in chronological order: 8,000 units at $11 per unit = $ 88,000 10,000 units at $13 per unit = $ 130,000 During 2020, 12,000 units were purchased at $19 per unit. Also during 2020, 16,000 units were sold. Disregarding income tax, calculate the amount of the LIFO liquidation effect disclosed in Miami's footnotes