The Churchill Corporation uses a periodic inventory system and the LIFO inventory cost method for its one product. Beginning inventory of 21,600 units consisted of the following listed in chronological order of acquisition: 12,800 units at a cost of $8.00 per unit = $102,400 8,800 units at a cost of $9.00 per unit = 79,200 During 2021, inventory quantity declined by 11,600 units. All units purchased during 2021 cost $12.00 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