The Churchill Corporation uses a periodic inventory system and the LIFO inventory cost method for its one product. Beginning inventory of 23,000 units consisted of the following, listed in chronological order of acquisition: 13,500 units at a cost of $7.00 per unit = $94,500 9,500 units at a cost of $8.00 per unit = 76,000 During 2021, inventory quantity declined by 13,000 units. All units purchased during 2021 cost $11.00 per unit. Required: figure the before-tax LIFO liquidation profit or loss that the company would report in a disclosure note, assuming the amount determined is material.