The Churchill Corporation uses a periodic inventory system and the LIFO inventory cost method for its one product. Beginning inventory of 23,600 units consisted of the following listed in chronological order of acquisition: 13,800 units at a cost of $7.00 per unit = $96,600 9,800 units at a cost of $8.00 per unit = 78,400 During 2021, Inventory quantity declined by 13,600 units. All units purchased during 2021 cost $12.00 per unit Required: Calculate the before-tex LIFO liquidation profit or loss that the company would report in a disclosure note, assuming the amount determined is material LIFO liquidation profit