The Churchill Corporation uses a periodic inventory system and the LIFO inventory cost method for its one product. Beginning inventory of 21,000 units consisted of the following, listed in chronological order of acquisition:

12,500 units at a cost of $6.00 per unit =	$75,000
8,500 units at a cost of $7.00 per unit =	59,500

During 2016, inventory quantity declined by 11,000 units. All units purchased during 2016 cost $10.00 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 = ____________