The Churchill Corporation uses a periodic inventory system and the LIFO inventory cost method for its one product. Beginning inventory of 23,200 units consisted of the following, listed in chronological order of acquisition: 13,600 units at a cost of $9.00 per unit = $122,400 9,600 units at a cost of $10.00 per unit = 96,000 During 2021, inventory quantity declined by 13,200 units. All units purchased during 2021 cost $13.00 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.