The Foxworthy Corporation uses a periodic inventory system and the LIFO inventory cost method for its one product. Beginning Inventory of 76,000 units consisted of the following, listed in chronological order of acquisition: 42,000 units at a cost of $6.00 per unit 34,000 units at a cost of $7.00 per unit = $252,000 238,000 During 2021, Inventory quantity declined by 37,800 units. All units purchased during 2021 cost $8.00 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. Before-tax LIFO liquidation profit $ 38,000